Singati Hydro Energy Ltd.

sDkgL P]g, @)^# cGtu{t :yflkt / ;+rflnt
l;+u6L xfO8«f] OghL{ lnld6]8

Singati Hydro Energy Limited
b/af/dfu{, sf7df8f}+
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Email:shehydro@gmail.com, j]e;fO{6 Mwww.singatihydro.com
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-lwtf]kq ;DaGwL P]g, @)^# sf] bkmf #) tyf sDkgL P]g, @)^# sf] bkmf @# cGtu{t k|sflzt_
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sDkgLsf] g]6jy{ tyf k|lt z]o/ cfDbfgLdf ePsf] jf:tljs tyf k|If]lkt cf};t k|ltkmn b]xfo adf]lhd /x]sf]5 M
jf:tljs ckl/is[t k|If]lkt
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k|lt z]o/ g]6jy -?=_ 100.00 100.00 100.00 100.00 !)*=)# !!&=!( !@*=$) !$!=*(
k|lt z]o/ cfDbfgL -?=_ - - - - *=)# (=!^ !!=@@ !#=$*
;+lrt gfkmf÷gf]S;fgL - - - - 116,380.91 249,200.24 411,818.35 607,335.88
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sDkgLn] cfˆgf] hf/L k"FhL ?= !,$%,)),)),)))÷– -cIf/]kL ?= Ps ca{ k}tfnL; s/f]8 dfq_ dWo] !)% cyf{t\ ?= !$,%),)),)))÷–
-cIf/]kL ?=rf}w s/f]8 krf; nfv_ /sd a/fa/sf] ?= !))÷— c+lst b/sf !$,%),))) lsQf ;fwf/0f z]o/ cfof]hgf k|efljt If]q cyf{t\
bf]nvf lhNnfsf] clt k|efljtIf]q lau' / sflnGrf]s ufFpkflnsfsf afl;Gbfx?sf nflu lgisfzg ul/Psf] / afFsL @)Ü cyf{t\
?=@(,)),)),)))÷—-cIf/]kL ?= pgfGtL; s/f]8_ /sd a/fa/sf] ?=!))÷—c+lst b/sf] @(,)),))) lsQf ;fwf/0f z]o/ dWo] %Ü cyf{t\
!,$%,))) lsQf ;fwf/0f z]o/ ;fd'lxs nufgL sf]if / @Ü cyf{t\ %*,))) lsQf ;fwf/0f z]o/ sDkgLsf sd{rf/Lsf nflu 5'§fOPsf] /
afFsL @^,(&,))) lsQf ;fwf/0f z]o/ ;j{;fwf/0fx?sf] nflu lwtf]kq btf{ tyf lgisfzg lgodfjnL, @)&# sf] clwgdf /xL lgisfzg
ul/Psf] 5 . jftfj/0fLo k|efj d"NofÍg k|ltj]bgdf ePsf] ljj/0f tyf ljB't pTkfbg cg'dtLkqsf] cfwf/df cfof]hgf k|efljt If]q
5'§fOPsf] xf] .
b/vf:t ;fy k|lt ;fwf/0f z]o/ ?= !))÷—sf b/n] ztk|ltzt e'QmfgL dfu ul/Psf] .
k|lt d]ufjf6 nfut ;DaGwL ljj/0f
;+ul7t ;+:yfsf] k|If]lkt ljQLo ljj/0f cg';f/ k|If]lkt k|lt d]ufjf6 nfut @@ s/f]8 -lgdf{0f cjlwsf] Jofh ;lxt_ x'g] k|If]k0f ul/Psf]
5.
ljB't pTkfbg cg'dltsf] afFsL cjlw ;DaGwL ljj/0f
cg'dltkq axfn /xg] cjlw ldlt @!)&÷)(÷@( ;Dd /x]sf]n] #) jif{ afFsL /x]sf] 5 .
nufgL lkmtf{ x'g] cjlw -Pay Back Period_ ;DaGwL Joj:yf
nufgL lkmtf{ x'g] cjlw-Pay Back Period_ *=!^ jif{ / l8:sfp06df nufgL lkmtf{ x'g] cjlw -Discounted Pay BackPeriod_
!$=$) jif{ /x]sf] 5 .
nufgLdf x'g] hf]lvd ;DaGwL pb\3f]if0f M
lwtf]kqdf ul/g] nufgLdf hf]lvd x'g] ePsf]n] To:tf] hf]lvdsf] d"NofÍg ug]{ k|d'v bfloTj nufgLstf{ :jo+sf] x'g]5 / lwtf]kqsf] lgisfzg
d'Non] ;"lrs/0f kZrft\\ lwtf]kq ahf/df x'g] sf/f]af/ d"No ghgfpg] x'Fbf o; ljj/0fkqsf] bkmf * df pNn]lvt hf]lvdx? ;d]tsf]
cWoog u/]/ dfq nufgL ;DaGwL lg0f{o lng ;'emfj ul/G5 .
lgodg lgsfosf] hjfkmb]lxtf g/xg] pb\3f]if0f M
o; ljj/0fkqdf pNn]lvt lwtf]kq ;fj{hlgs lgisfzgsf] nflu tof/ ul/Psf] o; ljj/0fkqnfO{ lwtf]kq ;DaGwL P]g, @)^# adf]lhd
g]kfn lwtf]kq af]8{n] :jLs[tL k|bfg u/]sf] 5 . o;/L af]8{n] ljj/0fkq :jLs[tL k|bfg u/]sf] sf/0faf6 s;}n] klg g]kfn lwtf]kq af]8{,
sDkgL /lhi6«f/sf] sfof{no jf ;Da4 cGo lgodg lgsfon] ljj/0fkqdf pNn]lvt s'/fsf] ;Totf jf lgisfzgstf{ jf kl/of]hgfsf] cfly{s
;Ifdtfsf] af/]df s'g} k|sf/sf] k|Tofe"t u/]sf] jf lhDd]jf/L lnPsf] dflgg] 5}g .
o; ljj/0fkq dfkm{t lgisfzg ul/g] ;fwf/0f z]o/sf] ;fj{hlgs lgisfzg ug{sf nflu s]o/ /]l6ª g]kfnn] cf};t eGbf sd cfwf/x?
(Below-Average Fundamental) hgfpg] “CARE-NP BB-(IS)” ldlt cS6'a/ !^,@)@) df k|bfg u/]sf] 5. “[CARE-
NP BB-(IS) [Double B Minus (Issuer)]” n] (Moderate risk of default regarding timely servicing of
financial obligation) hgfpFb5 / ;f] /]l6ªsf] axfn cjlw cS6'a/ !%,@)@! -lj=;+=@)&*÷)^÷@(_ ;Dd /x]sf] 5 . ;f] ;DaGwL
ljj/0f o; ljj/0fkqsf] bkmf u=@@-6_ df pNn]v ul/Psf] 5 .
o; ljj/0fkq dfkm{t cfof]hgf k|efljt If]qsf afl;Gbfx?nfO{ laqmL ljt/0f u/]sf] z]o/ ;j{;fwf/0fsf nflu lgisfzg ul/Psf] z]o/
afF8kmfF6 ePsf] ldltn] tLg jif{ k"/f geP ;Dd c? s;}nfO{ laqmL jf x:tfGt/0f ug{ kfOg] 5}g .
lwtf]kq lgisfzg tyf laqmL k|aGws

g]kfn lwtf]kq af]8{af6 ljj/0fkq :jLs[t ePsf] ldlt M @)&&÷)(÷@! d]uf Soflk6n dfs]{6\; lnld6]8
sDkgL /lhi6«f/sf] sfof{nodf ljj/0fkq btf{ ePsf] ldlt M @)&&÷)(÷@! ;fs]6 sDkn]S;, lqk'/]Zj/, sf7df08f}+, g]kfn
lgisfzg v'Nnf x'g] ldlt M @)&&÷!@÷)^ kmf]g=g+=M)!–$@^@&&@, $@^@&&%
lgisfzg aGb x'g] ldlt -l56f]df_ M @)&&÷!@÷!) email: info@megacapitalmarkets.com
lgisfzg aGb x'g] ldlt -l9nf]df_ M @)&&÷!@÷@) website: www.megacapitalmarkets.com
v=!= ljj/0fkqdf k|of]u ePsf k|fljlws tyf cGo zAbfjnLsf] kl/efiff M
s æljj/0fkqÆ eGgfn] sDkgL P]g, @)^# sf] bkmf @# adf]lhd / lwtf]kq ;DaGwL P]g, @)^# sf] bkmf
#) adf]lhd k|sflzt ljj/0fx? ePsf] k'l:tsfnfO{ ;Demg' kb{5 .
v_ ælwtf]kq lgisfzg tyf laqmL k|aGwsæ eGgfn] d]uf Soflk6n dfs]{6\; lnld6]8, ;fs]t sDKn]S;,
lqk'/]Zj/, sf7df8f}+nfO{ ;Demg' kb{5 .
u_ ælwtf]kqÆ eGgfn] ;+ul7t ;+:yfn] hf/L u/]sf] z]o/ hgfpFb5 .
3_ æ;+ul7t ;+:yf÷sDkgLÆ eGgfn] lgisfzgstf{ sDkgL l;+u6L xfO8«f] OghL{ lnld6]8nfO{ ;Demg' kb{5 .
ª_ æ;+sng s]Gb|Æ eGgfn] ;fj{hlgs lgisfzgsf] nflu tof/ ul/Psf] ljj/0fkq / b/vf:t kmf/d k|fKt
ug{ ;lsg] tyf b/vf:t kmf/d;fy /sd a'emfpg ;lsg] u/L tf]lsPsf ;+:yfx?nfO{ ;Demg' kb{5 .
r_ ælgisfzg a}+sÆ eGgfn] lgisfzg tyf laqmL k|aGws;Fu ;Demf}tf u/L lwtf]kq lgisfzgsf] qmddf
cfj]bsaf6 k|fKt x'g] /sd hDdf ug{ lhDd]jf/L lng] a}+snfO{ ;Demg' kb{5 .
5_ ælgodg lgsfoÆ eGgfn] g]kfn lwtf]kq af]8{, sDkgL /lhi6«f/sf] sfof{no, ljB't lgodg cfof]u,
pBf]u ljefu tyf ljB't ljsf; ljefunfO{ ;Demg' kb{5 .
h_ æ;+:yfks, ;~rfns, sfo{sf/L k|d'v tyf Joj:yfkg eGgfn] l;+u6L xfO8«f] OghL{ lnld6]8sf] ;+:yfks,
;~rfns, sfo{sf/L k|d'v tyf Joj:yfkgnfO{ ;Demg' kb{5 .
em_ æaf]8{Æ eGgfn] g]kfn lwtf]kq af]8{nfO{ ;Demg' kb{5 .
`_ æ:yflgojf;LÆ -k|efljt If]q_ eGgfn] cfof]hgfaf6 ePsf] clt k|efljt tyf k|efljt If]q -pBf]u
k|efljt If]q_ cyf{t\ bf]nvf lhNnfsf] lau' / sflnGrf]s ufFpkflnsf If]qdf :yfoL ?kdf a;f]af; ug]{
g]kfnL tyf o; sDkgLn] cfJxfg kq k|sflzt ePsf] ldlt eGbf cl3Nnf] ldlt;Dd ;f]xL :yfgdf
a;fO{;/fO{ u/L cfPsf g]kfnL gful/s ;d]tnfO{ hgfpF5 .
6_ æljQLo ljj/0fÆ eGgfn] ;+ul7t ;+:yfsf] jf;nft, cfo—Joo ljj/0f, gub k|jfx ljj/0f ;Demg'
kb{5 .
v =@= ljj/0fkq tyf b/vf:t kmf/d k|fKt ug{ / b/vf:t ;fy /sd a'emfpg] :yfg M
ljj/0fkq kfOg] :yfgx? M
!= d]uf Soflk6n dfs]{6\; lnld6]8, lqk'/]Zj/, sf7df8f}+ . j]e;fO6M www.megacapitalmarkets.com

@= l;+u6L xfO8«f] Og{hL{ lnld6]8sf] cfof]hgf sfof{no, bf]nvf . j]e;fO6M www.singatihydro.com
#= g]kfn lwtf]kq af]8{ . j]e;fO6M www.sebon.gov.np
;j{;fwf/0fsf] nflu b/vf:t kmf/fd k|fKt ug]{ / b/vf:t a'emfpg] :yfgx? M
g]kfn lwtf]kq af]8{af6 cg'dlt k|fKt u/L l;—cf:jf(C-ASBA);]jfdf ;xefuL a}+s tyf ljQLo ;+:yfx? /
ltgsf zfvf sfof{nox? .
1
u=!=lwtf]kq lgisfzg tyf laqmL k|aGwssf] pb\3f]if0f M
xfdLnfO{ lgisfzgstf{ ;+ul7t ;+:yf tyf o;sf ;+:yfks÷;+rfnsx?n] pknAw u/fPsf] ljj/0f tyf
hfgsf/Lx?sf] cfwf/df o; ;+:yfsf] Joj:yfksLo, k|fljlws / cfly{s kIfsf] ljZn]if0ffTds cWoogaf6 xfdL
;Gt'i6 x'g'sf] ;fy} ljj/0fkqdf n]lvPsf cfly{s ljj/0fx? / cGo hfgsf/Lx? tYout, k"0f{ / ;xL b]lvPsf]n]
nufgLstf{x?nfO{ nufgL ;DaGwL lg0f{o lng d2t k'Ug] s'/fk|lt ljZj:t eO{ xfdLn] of] ljj/0fkq :jLs[tLsf
nflu g]kfn lwtf]kq af]8{df ælwtf]kq ;DaGwL P]g, @)^#Æ tyf ælwtf]kq btf{ tyf lgisfzg lgodfjnL, @)&#Æ
cg'?ksf] of]Uotf k'u]sf] k|lta4tfkq (Due Diligence Certificate) k|:t't u/]sf 5f}+ .
u=@=;+ul7t ;+:yfsf] pb\3f]if0f M
u=@= s=;+rfnssf] lhDd]jf/L tyf hjfkmb]lxtf ;DaGwL pb\3f]if0f M

of] ljj/0fkq xfdLn] k'g/fjnf]sg u/L cg'df]bg u/]sf] x'gfn] o; ljj/0fkqdf pNn]v ul/Psf ljj/0f tyf
hfgsf/Lx?sf ;fy} lgisfzg tyf laqmL k|aGwsnfO{ lbPsf] ljQLo ljj/0f, cGo ljj/0f, hfgsf/L tyf
sfuhftx?sf ;Totf / z'4tfk|lt / lwtf]kq btf{ tyf lgisfzg cg'dlt k|of]hgsf nflu g]kfn lwtf]kq
af]8{df k]z ul/Psf] ljj/0fkq / ;f] ;Fu ;DalGwt cGo ljj/0f tyf hfgsf/Lx?sf] z'4tf tyf ;Totfk|lt o;
ljj/0fkqdf x:tfIf/ ug]{ xfdL ;+rfnsx? JolQmut jf ;fd"lxs ?kdf hjfkmb]lxtf axg ub{5f}+ / lwtf]kq
lgisfzgsf nflu tf]lsPsf zt{ tyf cfjZostfx?sf] ;DaGwdf cfjZos hfgsf/L lnO{ xfdL pb\3f]if0f ub{5f}+
sL tf]lsPsf zt{ tyf cfjZostfx? ;a} kfngf u/]sf 5'÷5f}+ / nufgLstf{x?nfO{ nufgL ;DaGwL ;";'lrt
lg0f{o lng cfjZos s'g} ljj/0f, ;"rgf tyf hfgsf/Lx? n'sfPsf 5}gf}+ .
u=@= v=;+ul7t ;+:yfsf] hjfkmb]lxtf ;DaGwL pb\3f]if0f M

o; l;+u6L xfO8«f] OghL{ lnld6]8n] k|sflzt u/]sf] ljj/0fkq, ;fj{hlgs k|:tfj, lj1fkg jf cGo s'g} ;"rgfdf
pNn]v ePsf ljj/0fx? afx]s ;+ul7t ;+:yfsf] af/]df k|sflzt cGo s'g} ;"rgf jf hfgsf/Lsf] hjfkmb]lxtf
;+ul7t ;+:yfdf g/xg] / To:tf] ;"rgf, hfgsf/L jf ljj/0fsf] cfwf/df nufgL u/]df ;f] sf] hf]lvd nufgLstf{
:jo+n] axg ug'{kg]{5 .
u=@= u=lgodg lgsfosf] lgodg Joj:yfsf] kfngf ;DaGwL pb\3f]if0f M

k|rlnt sfg"g cg';f/ cfkm\gf] pBf]u÷Joj;fo÷;]jf;Fu ;DalGwt lgodg lgsfo -h:t}M sDkgL /lhi6«f/sf]
sfof{no, g]kfn ljB't k|flws/0f cfbL_ sf] ;fj{hlgs lgisfzgtyf cGo lgodg Joj:yf tyf lgb]{zgx?sf]
kfngf u/]sf] s'/fsf] pb\3f]if0f ub{5f}+ . ;fy} ;fj{hlgs lgisfzg k|of]hgsf] nflu tof/ ul/Psf] ljj/0fkq /
;f] df pNn]lvt ;Demf}tf jf cGo ljj/0fx? g]kfn lwtf]kq af]8, ljB't lgodg cfof]u / sDkgL /lhi6«f/sf]
sfof{nodf k]z u/]sf 5f}+ .
cf=j=)&$÷)&% ;Ddsf] ljj/0fx? k]z u/]sf] x'gfn] sDkgL cBfjlws /x]sf] Joxf]/f ldlt !&÷)&÷@)&& df
sDkgL /lhi6«f/n] kq dfkm{t :jLs[lt k|bfg u/]sf] 5 .
u=@=3=;+:yfks, ;+rfns tyf sfo{sf/L k|d'v ;DaGwL pb\3f]if0f M

!= o; sDkgLsf] ;+:yfks, ;~rfns jf k|d'v sfo{sf/L clws[t shf{ ;"rgf s]Gb|sf] sfnf] ;"rLdf /x]sf
5}gg\ .
@= o; sDkgLsf] ;~rfns jf k|d'v sfo{sf/L clws[t sfnf] ;"rLdf /x]sf] cGo ;+ul7t ;+:yfdf ;~rfns
jf sfo{sf/L k|d'v 5}gg\ .
#= ;fj{hlgs lgisfzgdfkm{t ;j{;fwf/0faf6 kF"hL ;+sng u/L j]kQf ePsf jf ;~rfngdf g/x]sf jf
nufgLstf{x?sf] lxt ljk/Lt x'g] sfo{ u/]sf] ;+ul7t ;+:yfsf] ;~rfns jf k|d'v sfo{sf/L clws[t
o; sDkgLsf] ;~rfns jf k|d'v sfo{sf/L clws[t 5}gg\ .
$= lwtf]kq ;DaGwL sfg'g ljk/Lt sfo{ u/]sf] sf/0f lwtf]kq ahf/ jf lwtf]kq Joj;foLsf] cg'dlt
vf/]h ePsf] bz jif{ k"/f gePsf] ;+ul7t ;+:yfsf] ;~rfns jf k|d'v sfo{sf/L clws[t o; sDkgLsf]
;~rfns jf k|d'v sfo{sf/L clws[t 5}gg\ .
%= o; sDkgLsf] ;~rfns jf k|d'v sfo{sf/L clws[t lwtf]kq ;DaGwL P]gsf] bkmf !)* adf]lhd
;~rfns jf k|d'v sfo{sf/L cof]Uo /x]sf 5}gg\ .
u=#=;+ul7t ;+:yf ;DaGwL hfgsf/L M

2
u=#=s= ;+ul7t ;+:yfsf] k[i7e"ld
s_ ;+ul7t ;+:yfsf] gfd M l;+u6L xfO8«f] OghL{ lnld6]8 (Singati Hydro Energy Limited)
v_ s'g P]g cGtu{t :yflkt ePsf] ;f] s'/f M sDkgL P]g, @)^# adf]lhd ldlt @)^& ;fn h]i7
)% ut] sDkgL /lhi6«f/sf] sfof{nodf k|fOe]6 lnld6]8 sDkgLsf] ?kdf btf{ eO{ ldlt @)&%
cfiff9 ^ ut] b]lv klAns lnld6]8 sDkgLsf] ?kdf kl/0ft eO{ sf/f]af/ ;+rfng ub}{ cfPsf]
sDkgL xf] .
u_ ;+:yfsf] /lhi68{ 7]ufgf M o; sDkgLsf] /lhi68{ sfof{no sf7df8f}+ lhNnf, sf7df8f}+
dxfgu/kflnsf j8f g+ !, b/af/dfu{df /x]sf] 5 . cfjZostfg';f/ :jLs[tL lnO{ cGo
:yfgx?df klg /lhi68{ sfof{no ;fg{ jf zfvf sfof{no vf]Ng ;lsg]5 .
3_ hnljB'ts]Gb| Mo; sDkgLsf] hnljB't pTkfbg s]Gb| bf]nvf lhNnfsf] sflnGrf]s uf=kf= j8f
g+= #l;+u6L ahf/ glhs /x]sf] 5 .
ª_ ;+ul7t ;+:yfsf] :yfkgf sfnb]lv xfn;Ddsf] ;+lIfKt Oltxf; / ;+ul7t ;+:yfsf] d'Vo
p2]Zox?M
sDkgLsf] :yfkgf sfn b]lv xfn;Ddsf] ;+lIfKt Oltxf; b]xfo adf]lhd /x]sf] 5 M
!= l;+u6L xfO8«f] OghL{ lnld6]8n] k|rlnt sfg'g adf]lhd @)^& ;fn h]i7 )% ut] sDkgL /lhi6«f/sf]
sfof{nodf k|fOe]6 lnld6]8 sDkgLsf] ?kdf btf{ eO{ ldlt @)&% ;fn cfiff9 )^ ut]b]lv klAns
lnld6]8 sDkgLdf kl/0ft eO{ sDkgL P]g, @)^# cGtu{t sfd÷sf/f]af/ ub}{ cfO{/x]sf] 5 .
@= sDkgLn] l;+u6L vf]nfhnljB't cfof]hgf-@% d]ufjf6_, pTkfbg tyf ;~rfng ug{ ljB't pTkfbgsf]
cg'dlt kq g]kfn ;/sf/, phf{ dGqfnoaf6 ldlt lj=;=@)&@÷!)÷@) ut] k|fKt u/]sf] / pQm cg'dlt
kq @!)&÷)(÷@( ut];Dd axfn /x]sf] 5 .
#= o; sDkgLsf] k|aGwkq tyf lgodfjnLdf Aoj:yf eP cg';f/ hf/L k"FhLsf] #)% z]o/ dWo] pBf]u
k|efljt If]q cyf{t\ bf]nvf lhNnfsf sflnGrf]s tyf lau' ufFpkflnsfsf afl;Gbfx?sf nfuL !)%
cyf{t\ ?=!)) c+lst b/sf !$,%),))) lsQf z]o/ lgisfzg tyf lalqm ul/g]5 .
$= sDkgLn] klxrfg u/L ljsf; lgdf{0f k|f/De u/]sf] bf]nvf lhNnfsf] sflnGrf]s / lau' ufFpkflnsfdf
l;+u6L vf]nf hnljB't cfof]hgf-@% d]ufjf6_lgdf{0f ;DkGg x'g] cj:yfdf /x]sf] 5 . xfn;Ddsf] k|ult
x]bf{ cfufdL @)&& kf}if klxnf] xKtf leqdf Jofkf/Ls pTkfbg ;'? ul/g] nIo /x]sf] / ;f] ldlt eGbf
nueu !% lbg cufj} cfof]hgfsf] clGtd kl/If0f ;DkGg u/L g]kfn ljB't k|flws/0fnfO{ Jofkfl/s
pTkfbgsf] nflu kqfrf/ ;d]t ul/Psf] 5 .
%= @% d]ufjf6 Ifdtfsf] o; cfof]hgfx?sf] s'n nfut % ca{ %) s/f]8 $^ nfv ^* xhf/ dfq k|If]k0f
ul/Psf] 5 / k|lt d]ufjf6 pTkfbg nfut nueu ?=@@ s/f]8 dfq / o;sf] Normal Payback Period
*=!^ jif{ / Discounted Payback Period !$=$) jif{ /x]sf] 5 .
^= l;+u6L vf]nfhnljB't cfof]hgjf6 pTkfbg ul/Psf] ;a} ljB'tzlQm Psd'i6 g]kfn ljB't k|flws/0fn]
vl/b ug{ dGh'/ u/L sDkgL / k|flws/0f aLr @)&) ;fn sflt{s @& ut] / @)&$ ;fn d+l;/ @* ut]
qmdzM !^ d]ufjf6 Ifdtf / ( d]ufjf6 Ifdtf u/L hDdf @% d]ufjf6 Ifdtfsf] ljB't vl/b laqmL
;Demf}tf ;DkGg eO{;s]sf] 5 .
&= ;+ul7t ;+:yfsf] l;+u6L vf]nf hnljB't cfof]hgfsf] ;+lIfKt k|fljlws ljj/0fx? lgDgfg';f/ /x]sf] 5 M
ljB't kl/of]hgfsf] gfdM l;+u6L vf]nf hnljB't cfof]hgf
ljB't u[x :yn Mbf]nvf lhNnf, l;+u6L ahf/af6 @)) ld=sf] b'/Ldf cjl:yt /x]sf] 5 . cfof]hgfsf]
;Dk"0f{ ;+/rgf bf]nvf lhNnfsf] lju' / sflnGrf]s ufFpkflnsfdf kb{5g\ .
>f]t gbL M l;+u6L vf]nfsf] kfgL .
cfof]gfsf] lsl;d M /g ckm l/e/
ljB't pTkfbg cg'dlt k|fKt ldlt M @)&@÷!)÷@)
ljB't pTkfbg cg'dlt jxfn /xg] ldlt M@!)&÷)(÷@(
pTkfbg x'g] ;Defljt ldlt M@)&&, kf}if klxnf] xKtf -g]kfn ljB't k|flws/0fn] ;a :6]zg lgdf{0f
;DkGg u/]df _
hl8t Ifdtf M @% d]=jf
cfof]hgfsf] s'n nfut M ?=% ca{ %) s/f]8 $^ nfv ^* xhf/ dfq
cfof]hgfsf] k|lt d]ufjf6 nfut M ?=@@ s/f]8 dfq .
3
cfof]hgfsf] ;fwf/0f nufgL lkmtf{ x'g] cjlw M *=!^ jif{
cfof]hgfsf] l8:sfp06df nufgL lkmtf{ x'g] cjlw M !$=$) jif{
RCOD ldlt: @)&^, kf}if !% -!^ d]=jf= Ifdtfsf]_ / @)&&, >fj0f ! -(d]=jf= Ifdtfsf]_ pNn]lvt
ldlt eGbf kl5 ^ dlxgf u]|; cjlw /x]sf] / pQm cjlw leqdf ljB't pTkfbg ePdf hl/jfgf a'emfpg'
gkg]{ k|fjwfg /x]sf] . _
*= cfof]hgfsf] ljleGg sfo{x?sf] k|ult ljj/0f M

l;=g+= ljj/0f sfo{ k|ult k|ult ljj/0f
k|ltztdf
! cfwf/e"t lgdf{0f sfo{ !))
k|j]z dfu{ ;DkGg eO{ cfjZostf cg';f/ dd{t ;Def/
sfo{ eO/x]sf] .
l;len ;+/rgf ;DkGg .
@ l;len sfo{x? !))
x]8 sfo{x? ;DkGg .
k]g:6s / kfj/ xfp;sf sfo{x? lgdf{0f ;DkGGfsf] clGtd r/0fdf .
qm]g :yflkt / k|]md ;+/rgfsf lgdf{0f ;DkGGfsf] clGtd r/0fdf .
sfo{x?
# e"ldut 6g]n sfo{x? !))
6g]n %(!%ld 6g]n sf] sG:6«S;g sfo{ ;DkGg lgdf{0f ;DkGg
ePsf] .
x]8/]; 6g]n !^^^ld x]8/]; 6g]n pTvgg u/L ;DkGg ePsf] .
$ xfO8«f] d]sflgsn sfo{ !))
x]8 js{;\ ;DkGgePsf] .
Pla b]lv kfj/ xfp; !))Ü lgdf{0f ;DkGg / jfOkms]{zg sfo{ ;DkGg .
x]/]; kfOk a]n d'v b]lv OG6]n 6g]n !))Ü h8fg ;DkGg .
;{h ;fˆ6\ !))Ü sfo{ ;DkGg .
% On]S6«f]d]sflgsn sfo{ !))
d]lzg tyf pks/0f pknlAw tyf ;DkGg .
8]lne/L
d]lzg tyf pks/0f ((Ü sfo{ ;DkGg . ((
h8fg
s|]g h8fg ;DkGg .
^ Jfftfj/0fLo k|efj d"No+fsg Jfftfj/0fLo k|efj d"Nof+sg ;DalGwt / ;fdflhs sfo{x? !))
;DalGwt / ljljw sfo{x? cfjZostf cg';f/ eO/x]sf] .
;du|df cfof]hgfsf] sfo{ k|ult ((± k|ltzt ;DkGg eO;s]sf] . -g]kfn ljB't k|flws/0fn] ljB'tu[x kl/If0f u/]df ;t
k|ltzt kl/If0f ;DkGg x'g]5 _
(= kl/of]hgfsf] xfnsf] cj:yf M l;+u6L vf]nf hnljB't cfof]hgfsf] ((± k|ltzt sfo{ ;DkGg eO{;s]sf] / xfn
cfof]hgf lgdf{0fsf] clGtd r/0fdf /x]sf] 5 .
!)= kl/of]hgfsf]] IRR k|If]lkt lgDgfg';f/ u0fgf ul/Psf] 5 M
s_ OlSj6L IRR M o; ljlwdf, C0fsf] nfut / C0f e'QmfgLnfO{ e'QmfgL ePsf] ;dodf alx{udgsf] ?kdf lnOPsf] 5
eg] ;Dk"0f{ OSjL6LnfO{ u0fgf cjlwsf] ;'?df alx{udgsf] ?kdf lnOPsf] 5 .
v_ k|f]h]S6 IRR M o; ljlwdf, kl/of]hgfsf] nfutnfO{ gub alx{udg dflgPsf] 5 eg] C0fsf] nfut tyf C0f e'QmfgLnfO{
gub alx{udg dflgPsf] 5}g .
u_ IRR#) jif{;Dd gub k|jfx ljrf/ u/L u0fgf ul/Psf] 5 .
3_ lgDglnlvt k|d'v cf]e/xfplnË÷dd{t kl/of]hgfx?sf] gub alx{udg jf IRR / NPV p2]Zosf] nflu vr{sf] ?kdf
dflgPsf] 5 .
4
jif{ /sd ?= s}lkmot÷l6Kk0fL
bz nfv ?k}+ofdf gofF ;fdfgsf] vl/b ul/of] . 1,38,09,866.63sf] k|d'v dd{t

3 20,826,869=44 k"FhLs[t / k|of]udf gcfPsf] ? =1,39,74,095.95(v'b) laqmL eof] .
5 35,752,792=54 On]S6«f]d]sflgsn sfo{sf] k|d'v dd{t k"FhLs[t
ª_ cg'dflgt kl/of]hgf nfut ?=%%)=$& s/f]8 -cfly{s jif{ @)&&÷&*df x'g] vr{ /sd ;d]t_ nfO{ jif{ alx{udg
dflgG5 .
!!= NPV k|If]lkt lgDgfg';f/ u0fgf ul/Psf] 5 M

s_ of] cg'dfg ul/Psf] 5 ls jt{dfg ;DklQx? Kfl/of]hgf cjlwsf] cGTodf k|of]u of]Uo x'G5g\ o¢kL To:tf
;DkQsf] lg;u{ k|aGwn] kl/of]hgfsf] NPV df s'g} vf; k|efj kfb{}g .
v_ kl/of]hgfdf gub k|jfx NPV cfpg #! jif{sf] cjlwsf] nflu !)=))Ü sf] b/df 5'6 ul/Psf] 5 .
u_ ?= %%)=$& s/f]8sf] cg'dflgt kl/of]hgf nfut -cfly{s jif{ @)&&÷&* df vr{ x'g] /sd_nfO{ jif{ z"Godf
alx{udg dflgG5.
sDkgL / g]kfn ljB't k|flws/0faLr ;DkGg ljB't v/Lb–laqmL ;Demf}tfsf] d'Vo–d'Vo aF'bfx¿ lgDgadf]lhd
/x]sf 5g\ .
s= l;+u6L vf]nf hnljB't cfof]hgf af6 jflif{s !#@,^)(,@(# KWh (Kilo Watt) 306f ljB't pTkfbg
tyf laqmL ul/g] s'/f dfl;s phf{ pTkfbg tflnsfdf tf]lsPsf] 5 . l;+u6L vf]nf hnljB't cfof]hgfdf
jiff{ ofdsf cf7 dlxgfsf] nflu !!@,&)(,!%*kWh306f / ;'Vvfofdsf rf/ dlxgfsf nflu
!,((),)!#% kWh306f lgwf{/0f ul/Psf] 5 .
OghL{ tflnsf
PPA 16 MW
Table I
:yfkgf Ifdtf (kW) 16,000 Rated Turbine Efficiency 91 k|ltzt
l8hfOg l8:rfh (m3/s) 9=73 Rated Generator Efficiency 95 k|ltzt
Go"gtd l/nLh (m3/s) 0=264 Rated Transformer Efficiency 99 k|ltzt
85=59
s'n Head (m) 216=49 Combined Efficiency k|ltzt
Outage + Losses +Self Consumption (%) 4 k|ltzt
Table II
Monthly
ljB't
ljB't pTkfbgsf] clwstd Generation Outage
pTkfbgsf] nflu Net dfl;s before Including phf{
hDdf nflu l8:rfh{ Head cf}ift kfj/ Outage & Losses ;Demf}tf
dlxgf lbg gbL(m3/sec) (m3/sec) (m) kfj/(KW) (KW) Losses (kWh) (kWh) (Kwh)
A B C D E E1 F G H=F-G
a}zfv 31 3.61 3.35 213.40 5,994 12,381 4,459,730 178,389 4,281,341
h]i7 31 6.59 6.33 206.73 10,987 15,840 8,174,315 326,973 7,847,342
cfiff9 32 23.30 9.73 194.12 15,840 15,840 12,165,120 486,605 11,678,515
>fj0f 31 40.73 9.73 194.12 15,840 15,840 11,784,960 471,398 11,313,562
efb| 31 41.41 9.73 194.12 15,840 15,840 11,784,960 471,398 11,313,562
cflZjg 31 24.48 9.73 194.12 15,840 15,840 11,784,960 471,398 11,313,562
5
sflt{s 30 9.83 9.56 194.86 15,644 15,840 11,263,550 450,542 10,813,008
d+l;/ 29 6.59 6.33 206.74 10,984 15,840 7,644,711 305,788 7,338,923
kf}if 30 5.02 4.76 210.76 8,416 13,246 6,059,495 242,380 5,817,115
df3 29 3.90 3.64 212.93 6,499 9,048 4,523,474 180,939 4,342,535
kmfNu'0f 30 3.16 2.90 214.05 5,207 7,870 3,748,924 149,957 3,598,967
r}q 30 2.60 2.34 214.72 4,216 7,140 3,035,706 121,428 2,914,278
hDdf 365 96,429,905 3,857,196 92,572,709
Gff]6M!_ o; 6]andf lbOPsf] eGbf km/s lbg ;+Vof k/]sf dlxgfx?df o; 6]ansf] cfwf/df lg:sg] k|lt lbgsf]
sG6«fofS6 OghL{n] dlxgfsf] jf:tljs lbg ;+VofnfO{ u'0ff u/L ;f] dlxgfsf] sG6«fofS6 OghL{ lgwf{/0f ul/g]5
.
@_ ;Demf}tfsf] a'+bf #*=!* df Joj:yf eP cg';f/ Jofkfl/s pTkfbg (COD) ePsf] k|To]s % jif{ k"/f eP kl5
k|To]s dlxgfsf] sG6«fofS6 OghL{ (Total Contract Energy) kl/jt{g ug{ l;sg]5 .
Table III
;'Vvf ofdsf] s"n OghL{(kWh) 16,672,895
aiff{ ofdsf] s"n OghL{(kWh) 75,899,814
hDdf(kWh) 92,572,709
PPA- 16 + 9 MW = 25 MW
Table I
:yfkgf Ifdtf (kW) 25000 Rated Turbine Efficiency 91.50%
l8hfOg l8:rfh (m3/s) 10.876 Rated Generator Efficiency 97.00%
Go"gtd l/nLh (m3/s) 0.319 Rated Transformer Efficiency 99.00%
s'n Head (m) 268.05 Combined Efficiency 87.87%
Outage + Losses +Self Consumption (%) 4%
Table II
Monthly
Generation
ljB't clwstd before Outage
ljB't pTkfbgsf] Net dfl;s Outage & Including phf{
hDdf pTkfbgsf] nflu nflu l8:rfh{ Head cf}ift kfj/ Losses Losses ;Demf}tf
dlxgf lbg gbL(m3/sec) (m3/sec) (m) kfj/(KW) (KW) (kWh) (kWh) (Kwh) dlxgf hDdf lbg
A B C D E E1 F G H=F-G I J
a}zfv 31 4,819 4,500 265.60 10,407 19,116 7,665,662 306,626 7,359,035 4,281,341 3,077,694
h]i7 31 6,509 6,191 264.60 14,263 24,635 10,505,291 420,212 10,085,080 7,847,342 2,237,738
cfiff9 32 26,692 10,876 260.15 24,635 24,635 18,730,329 749,213 17,981,116 11,678,515 6,302,601
>fj0f 31 38,819 10,876 260.15 24,635 24,635 18,145,007 725,800 17,419,206 11,313,562 6,105,644
efb| 31 35,814 10,876 260.15 24,635 24,635 18,145,007 725,800 17,419,206 11,313,562 6,105,644
cflZjg 31 23,619 10,876 260.15 24,635 24,635 18,145,007 725,800 17,419,206 11,313,562 6,105,644
sflt{s 30 10,705 10,386 260.73 23,577 24,635 16,805,973 672,239 16,133,734 10,813,008 5,320,726
d+l;/ 29 6,149 5,830 264.84 13,443 24,635 9,263,097 370,524 8,892,574 7,338,923 1,553,651
kf}if 30 4,237 3,919 265.88 9,071 15,753 6,466,057 258,642 6,207,415 5,817,115 390,300
df3 29 3,191 2,872 266.27 6,659 9,722 4,588,411 183,536 4,404,874 4,342,535 62,339
kmfNu'0f 30 3,186 2,868 266.27 6,648 10,497 4,739,050 189,562 4,549,488 3,598,967 950,521
r}q 30 3,306 2,987 266.23 6,925 11,657 4,935,790 197,432 4,738,358 2,914,278 1,824,080
hDdf 365 138,134,680 5,525,387 132,609,293 92,572,710 40,036,583
Gff]6M !_ o; 6]andf lbOPsf] eGbf km/s lbg ;+Vof k/]sf dlxgfx?df o; 6]ansf] cfwf/df lg:sg] k|lt lbgsf]
sG6«fofS6 OghL{n] dlxgfsf] jf:tljs lbg ;+VofnfO{ u'0ff u/L ;f] dlxgfsf] sG6«fofS6 OghL{ lgwf{/0f ul/g]5 .
@_ ;Demf}tfsf] a'Fbf #*=!* df Joj:yf eP cg';f/ Jofkfl/s pTkfbg (COD) ePsf] k|To]s % jif{ k"/f eP
kl5 k|To]s dlxgfsf] sG6«fofS6 OghL{ (Total Contract Energy) kl/jt{g ug{ l;sg]5 .
Table III
;'Vvf ofdsf] s"n OghL{(kWh) 19,900,135
aiff{ ofdsf] s"n OghL{(kWh) 112,709,158
hDdf(kWh) 132,609,293
6
v= sG6«ofS6 OghL{sf] jf Availability Declearationsf] cfwf/df u0fgf x'g] dfl;s phf{ dWo] h'g 36L 5
;f] sf] *) -c;L_ k|ltzt eGbf sd gx'g] u/L k|To]s dxLgf sDkgLn] cfof]hgfaf6 ljB't pTkfbg u/L
k|flws/0fnfO{ ljB't cfk"lt{ ug'{ kg]{5 . k|flws/0fsf] sf/0f jf Schedule Outage jf cfsl:ds dd{t ;Def/
jf sfj" jflx/sf] kl/l:ytLsf] sf/0f afx]s cGo sf/0fn] o;/L tf]lsPsf] kl/df0f ;Ddsf] ljB't sDkgLn] cfk"tL{
ug{ g;s]df jf gu/]df lgDg z'q cg';f/ sDkgLn] k|flws/0fnfO{ IftLk"tL{ :j?k /sd e'QmfgL ug'{kg]{5 .
Ifltk"lt{ /sd ?=-)=* x ;f] dlxgf sDkgLaf6 k|flws0fnfO{ cfk"lt{ ug'{kg]{ j9Ldf sG6«ofS6 OghL{ ;Ddsf]
Availability Declaration cg';f/sf] ljB't phf{ — ;f]xL dlxgfdf sDkgLn] pknAw u/fPsf] phf{ - ;f]xL
cjlwdf k|flws/0fsf] sf/0fn] jf Scheduled outage jf cfsl:ds dd{t ;Def/ jf sfa" aflx/sf]
kl/l:ytLsf] sf/0fn] cfof]hgfaf6 pknAw x'g g;s]sf] phf{_ x ;f] dlxgfsf] k|lt lsnf]af6 306f ljB't phf{
vl/b b/ Ù
o;/L lx;fa ubf{ Ifltk"lt{ /sd C0ffTds ePdf Ifltk'lt{ /sdnfO{ z"Go dflgg]5 . Ifltk"lt{ /sd ljn /sd
eGbf a9L ePdf ljn /sd eGbf a9L ePsf] Ifltk'lt{ /sd sDkgLn] k|flws/0fnfO{ ltg'{kg]{ 5}g .
o:tf] Ifltk'lt{ /sd k|flws/0fn] lansf] e'QmfgL lbFbf s§f ug{ ;Sg]5 .
u= k|flws/0fn] Jofkfl/s pTkfbg z'? x'g] ldltb]lv x/]s jif{ sDkgLnfO{ k|flws/0fn] lgDg adf]lhd d"No j[l4
b/ tf]s]sf] 5 .l;+u6L vf]nf hnljB't cfof]hgfaf6 pTkfbg u/L pknAw u/fPsf] sG6«ofS6 OghL{sf]
kl/df0f;Ddsf] phf{ v/Lb jfkt jiff{ ofddf k|lt ls=jf= 306f ?=$=*) -cIf/]lk ?=rf/ ?k}+of c;L k};f dfq_
/ ;'Vvf ofddf k|lt ls=jf= 306f ?=*=$) - cIf/]lk ?=cf7 ?k}+of rfln; k};f dfq_ ljB't v/Lb b/n] x'g
cfpg] /sd sDkgL jf bkmf #$ cg';f/sf] cu'jf a}+s jf ljQLo ;+:yfnfO{ a'emfpg] 5 . ;fy} Jofkfl/s pTkfbg
z'? x'g] ldlt -Commercial Operation Date_af6 Ps jif{ k'u]sf] dlxgfsf] nuQ} kl5sf] dlxgfb]lv nfu' x'g]
u/L k|To]s jif{sf] nflu # -tLg_ k|ltztsf b/n] d"Noj[l¢ lgDg tflnsf cg';f/ ljB't phf{ v/Lb b/ sfod
ul/Psf] 5 .
!^ d]=jf= Ifdtfdf k|fKt ePsf] d"No j[l¢

cjlw
Jofkfl/s pTkfbg z'? x'g] ldlt ;'Vvf ofd -kf}if b]lv
jiff{ ofd -j}zfv b]lv
-COD_ af6 Ps jif{ k'u]sf] dlxgfsf] nuQ} r}q ;Dd_ -?= k|lt
dfu{;Dd_ -?= k|lt o'lg6_
kl5sf] dlxgfb]lv nfu' x'g] ul/ o'lg6_
klxnf] dlxgf b]lv !@ cf}+ dlxgf;Dd *=$) $=*)
!# cf}+ dlxgf b]lv @$ cf}+ dlxgf;Dd *=^% $=($
@% cf}+ dlxgf b]lv #^ cf}+ dlxgf;Dd *=() %=)(
#& cf}+ dlxgf b]lv $* cf}+ dlxgf;Dd (=!^ %=@#
$( cf}+ dlxgf b]lv ^) cf}+ dlxgf;Dd (=$! %=#*
^! cf}+ dlxgf b]lv ;Demf}tfsf] cjlw ;Dd (=^^ %=%@
(d]=jf= Ifdtfdf k|fKt ePsf] d"No j[l¢

cjlw
Jofkfl/s pTkfbg z'? x'g] ldlt
;'Vvf ofd -kf}if b]lv r}q jiff{ ofd -j}zfv b]lv
-COD_ af6 Ps jif{ k'u]sf] dlxgfsf] nut}
;Dd_ -?= k|lt o'lg6_ dfu{;Dd_ -?= k|lt o'lg6_
kl5sf] dlxgfb]lv nfu' x'g] ul/
klxnf] dlxgf b]lv !@ cf}+ dlxgf;Dd *=$) $=*)
!# cf}+ dlxgf b]lv @$ cf}+ dlxgf;Dd *=^% $=($
@% cf}+ dlxgf b]lv #^ cf}+ dlxgf;Dd *=() %=)(
#& cf}+ dlxgf b]lv $* cf}+ dlxgf;Dd (=!^ %=@#
$( cf}+ dlxgf b]lv ^) cf}+ dlxgf;Dd (=$! %=#*
^! cf}+ dlxgf b]lv &@ cf}+ dlxgf;Dd (=^^ %=%@
&# cf}+ dlxgf b]lv *$ cf}+ dlxgf;Dd (=(! %=^^
*% cf}+ dlxgf b]lv (^ cf}+ dlxgf;Dd !)=!^ %=*!
(& cf}+ dlxgf b]lv ;Demf}+tf cjlw;Dd !)=$@ %=(%
To;}ul/ pTkfbg ePsf] ljB't zlQm k|flws/0fn] lng g;s]df !^ d]=jf Ifdtfsf] xsdf $% k|ltzt / ( d]=jf
Ifdtfsf] % k|ltzt xhf{gfsf] Joj:yf ul/Psf] 5 .
Gff]6 MsDkgLsf] ljQLo kl/;"rs NPV=?=%#,&$,%#,&(*=#$ , IRR=!!=@(%
7
sDkgLsf] k|aGwkqsf] bkmf $ df pNn]v eP cg';f/ sDkgL sfg'g tyf cGo k|rlnt sfg'gsf] clwgdf :jLs[tL lng'
kg]{ eP ;DalGwt lgsfosf] :jLs[lt ;d]t lnO{ o; sDkgLsf] p2]Zo b]xfo adf]lhd x'g]5 M
-s_ ljB't cfof]hgfsf] ;DefJotf cWoog ug]{ M–ljB't;Fu ;DalGwt cfof]hgfx?sf] klxrfg u/L g]kfn ;/sf/;Fu
cg'dlt lnO{ k"j{ ;DefJotf cWoog, jftfj/0f k|efjsf] d'NofÍg (EIA) Detail Project Report(DPR) ;d]t tof/ u/L
ljB't vl/b laqmL;Ddsf] ;]jf lbg] .
-v_ ljB't cfof]hgfx? tyfk|;f/0f nfO{g lgdf{0f, ;~rfng tyf x:tfGt/0f ug]{(BOOT) M–
g]kfn ;/sf/;Fu cg'dlt k|fKt u/L ljB't cfof]hgfx? tyf k|;f/0f nfO{g lgdf{0f ug]{, ;~rfng ug]{ g]kfn
;/sf/nfO{ ;Demf}tf adf]lhd lglZrt ;dofjlw kl5 x:tfGt/0f ug]{, ;f] sfo{sf] nflu ljB't vl/bstf{;Fu
vl/b ;Demf}tf (PPA)u/L ljB't pTkfbg tyf laqmL ljt/0f ug]{ .
-u_ ljB't u[x lnhdf lng] jf vl/b u/L ;~rfng ug]{ M–
xfn ;~rfngdf /x]sf ;fy} lgdf{0fflwg ljB't u[xx?nfO{ vl/b ug]{ jf lnhdf lnO{ ;~rfng ug]{ / pTkflbt
ljB't laqmL ljt/0f ug]{ .
-3_ ljB't pTkfbg ;DaGwL k|ljlw x:tfGt/0fsf] lgldQ cg'elj Pj+ Voflt k|fKt cGt/f{li6«o sDkgLx?;Fu d}lqk"0f{
;DaGw :yfkgf u/L sDkgLnfO{ lxt x'g] ljifox?df ;Demf}tf ug]{, ljrf/sf] cfbfg k|bfg ug]{, ;ef
;]ldgf/x?sf] cfof]hgf ug]{, tflnd k|lzIf0f ;~rfng ug]{ tyf b]zdf ljB't zlQmsf] ljsf; ug{sf] nflu
cfjZos bIf hgzlQm tof/ ug]{ / cfjZos k/]df o;sf nflu ljb]zL ljz]if1 af]nfpg] jf cfjZostf
cg';f/ ljifo ljz]if1tfsf nflu :jb]zL hgzlQmnfO{ ljb]zdf tflnddf k7fpg] .
-ª_ lgdf{0fflwg tyf aGb ePsf] cfof]hgf ;~rfng ug]{, lnhdf lng] dd{t ;Def/ cflb ug]{ .
-r_ :jLs[lt lnO{ ljB't pTkfbgdf ;+nUg x'g cfpg] ljb]zL sDkgLx?;Fu ;+o'Qm nufgL (Joint Venture) df ljB't
pTkfbgsf kl/of]hgfx? ;~rfng ug]{ jf To:tf sDkgLsf] :yflgo k|ltlglw (Local Agent) eO{ sfd ug]{ .
-5_ ljB't cfof]hgf :yn;Dd k'Ug] af6f] cGo k"jf{wf/ / jftfj/0f ;+/If0f ;DaGwL sfo{ ug]{ .
-h_ pTkflbt ljB'tzlQm g]kfn ljB't k|flws/0fnfO{ laqmL ug]{ jf ;f]em} pkef]QmfnfO{ laqmL ug]{ .
-em_ 6«fG;kmd{/ nufot ljB't ;DaGwL cfjZos ;fdfgx? pTkfbg, vl/b tyf laqmL ljt/0f ug]{ .
-@_ sDkgLn] pkbkmf -!_ adf]lhdsf] p2]Zo sfof{Gjog ug{ k|rlnt sfg"g adf]lhd ;DalGwt lgsfoaf6
cg'dlt jf Ohfht k|fKt ug'{ kg]{ ePdf ;f] k|fKt ePkl5 dfq sfof{Gjog ul/g]5 .
-#_ pkbkmf -!_ df pNn]lvt p2]Zosf] ;DaGwdf cg'dlt jf Ohfht k|fKt u/] kZrft\\ To:tf] cg'dlt
jf Ohfhtkqsf] k|ltlnlk sfof{nodf k]z ul/g]5 .
r_ ;+ul7t ;+:yfsf] s'g} ;xfos sDkgL ePdf ;f] ;xfos sDkgLsf] gfd, Oltxf; / To;sf d'Vo
p2]Zox?sf ;fy} To;df ePsf] nufgLsf] c+z -k|ltztdf_ M ;f] gePsf] .
5_ b]xfosf s'/fx? ;d]t pNn]v ug'{ kg]{ -nfu' x'g] xb;Dd_ M
!_ sDkgLn] pTkfbg ug]{ j:t' jf k|bfg ug]{ ;]jfx? M hnljB't cfof]hgfsf] cWoog, lgdf{0f, k|;f/0f,
;+rfng / Joj:yfkg ug]{ .
@_ k|of]u ePsf] jf ul/g] ljlw M hn;|f]taf6 hnljB't pTkfbg ug]{ .
#_ s'g} a|fG8g]d, k|ltlnlk clwsf/, 6«]8dfs{, Ohfhtkq, k|fljlws ;xof]u ;Demf}tf / ;+ul7t ;+:yf;Fu
;DalGwt af}l4s ;DklQ xs clwsf/ M gePsf] .
$_ ;+ul7t ;+:yfn] cf]u6]sf] ahf/ If]q M pTkflbt ljB't /fli6«o ljB't k|0ffnL dfkm{t g]kfn ljB't
k|flws/0fnfO{ laqmL ug]{ .
%_ gofF pTkfbg tyf ;]jf ;DaGwL of]hgfM yk gofF hnljB't cfof]hgfx?sf] ljsf; ug]{ .
^_ pTkfbg tyf ;]jfsf] k|d'v ahf/ / To;sf] dfu / laqmL ljt/0fsf] tl/sf M
ljB't v/Lb laqmL ;D´f}tf cg';f/ g]kfn ljB't k|flws/0fnfO{ ljB't laqmL ug]{ ;fy} g]kfn ljB't
k|flws/0f;Fu ljB't vl/b ;Demf}tfdf ePsf] d'Vo d'Vo a'bfFx? M
s_ g]kfn ljB't k|flws/0f;+u cfof]hgf ;+rfngsf] ;xhtfsf nflu ;dGjo ;ldlt u7g u/L sfo{
ug]{ .
8
v_ l;+u6L vf]nfhnljB't cfof]hgfsf] ljB't vl/b laqmL b/ ljB't vl/b laqmL ;Ddmf}tfsf] aiff{df
$=*) ?k}of / lxpFbdf *=$) ?k}of sfod ePsf] 5 .
u_ sDkgLsf] sG6«ofs OghL{ jflif{s l;+u6L vf]nf hnljB't cfof]hgfaf6 jflif{s !#@,^)(,@(#kWh
306f /x]sf] 5 .
&_ pTkfbg÷;+rfng Ifdtf / ;f] sf] pkef]u l:ylt M l;+u6L vf]nf hnljB't cfof]hgf -@% d]ufjf6_
Ifdtfsf] hnljB't s]Gb| lgdf{0f sfo{ eO{ /x]sf] 5 .
*_ sRrf kbfy{sf] >f]t, lsl;d / pknAwtf M l;+u6L vf]nfaf6 k|fs[lts axfjdf cfwfl/t kfgL .
(_ u'0f lgoGq0fsf nflu ul/Psf] Joj:yfM hnljB't ;+/rgf / ljB't pks/0fx? pko'Qm cj:yfdf /fVg
cfjZos Joj:yf ul/Psf] 5 . o; cfof]hgfsf] ;Dk"0f{ ;+/rgf h:t} Hydro-Mechanical Works, Electro-
Mechanical Works, Headworks, Powerhouse, Transmission Line, Machinary Breakdown and
Loss of Profit nufotsf s'/fnfO{ dWogh/ u/LInsurance ul/Psf]/ul/g] 5 ;fy} Repair and Maintance
sf] nflu klg ;f]xL cg';f/ Joj:yfkg ul/Psf] 5 .
!)_ cg';Gwfg tyf ljsf; M gofF cfof]hgfx?sf] cWoog, ljZn]if0f Pj+ ljsf; sfo{sf] nflu sDkgLn]
pko'Qm hn;|f]tsf] vf]hL ul//x]sf] 5 .
!!_ ljut !@ dlxgfsf] cjlwdf ;+:yfsf] ;+rfngdf c;/ kg]{u/L ePsf] afwf, Jojwfg M ljutdf o;
sDkgLn] lgdf{0f ul//x]sf] cfof]hgfsf] kx'Frdfu{ -;fj{hlgs_df klx/f] cfO{ cfjfudgdf cj/f]w ePsf] /
;f] sf/0fn] cfof]hgfsf] sfo{ s]xL ;':t ePsf] / ;fwf/0f vr{df ;d]t ;fdfGo j[l¢ ePsf] / xfn
cfof]hgf lgdf{0f ;DkGg u/L Aofkf/Ls pTkfbgsf] kvf{O{df /x]sf] 5 .
sf]le8 –!( dxfdf/Lsf sf/0f kl/of]hgf ;+rfngdf k/]sf] afwf, Jojwfg M
;+;f/nfO{ g} lk/f]Ng] sf]le8sf] k|sf]kjf6 sf]xL c5'tf] /xg g;s]sf] cj:yfdf o; sDkgLnfO{ klg
k|efj k/]sf] 5 . o:sf] k|efjn] sDkgLsf] sfo{df l;lyntf cfO{ o; sDkgLn] lgdf{0f u/]s f]
l;+u6Lvf]nf hnljB't cfof]hgfsf] xsdf rfO{lgh k|fljlwsx? ;xh?kdf pknAw gx'gfsf] sf/0fn]
;dodf sfo{ ug{ / d]zLg h8fgdf k|ToIf k|efj k/]sf] / lgdf{0f qmddf ;d]t ;dfg 9'jfgL xf]; \
jf k|fljlwsx? / cGo Joj:yfkgsf] lgoldt sfo{ ;d]t x'g g;sL cfof]hgf tf]sLPsf] ldlt eGbf
k/ ws]nLPsf] 5 . ;fy}, pQm sf/0fn] d]l;g rnfpg g;Sbf lgoldt ?kdf k|fKt x'g] cfDbfgL
;d]t u'd]sf] 5 . a}s Jofh / Joj:yfkg vr{df ;d]t j[4L eO{ cfof]hgfnfO{ yk Joo ef/ ePsf]
5.
!@_ dhb'/ ;+u7g;Fusf] ;DaGw / ljutdf s'g} cf}Bf]lus ljjfb ePsf] eP, ;f];DaGwL ljj/0f M gePsf] .
!#_ ahf/, k|lt:kwf{ / cGo ;dfg pBf]ux? aLr ;+ul7t ;+:yfsf] l:ylt M Ps dfq ljB't v/Lbstf{ g]kfn
ljB't k|flws/0f /x]sf] 5 . l;+u6L vf]nf hnljB't cfof]hgf -@% d]ufjf6_sf] s"n ljB't pTkfbg Ifdtf
@% d]ufjf6 /x]sf] x'Fbf o; cfof]hgfn] ahf/sf] s]xL c+znfO{ dfq kl/k"lt{ ug]{5 . ;fy} ljB'tsf] xfxfsf/
eO{ 7"nf] kl/df0fdf phf{sf] dfu e}/x]sf] x'Fbf jt{dfg cj:yfdf ljB't pTkfbg ug{ ;s]df pQm ljB't
laqmL ug{ ahf/sf] s'g} ;d:of g/x]sf] . hnljB't cfof]hgfsf] nflu sRrf kbfy{sf] vf]hL tyf hu]8f
ug'{ gkg]{ / pTkflbt ljB't zlQm g]kfn ljB't k|flws/0f;Fu ;Demf}tf u/L laqmL ug{ ;lsg] x'Fbf g]kfnL
nufgLstf{sf] nflu of] nfebfos / pko'Qm If]q /x]sf] 5 .
!$_ k|d'v u|fxsx?sf] ljj/0f -h:t}–;+:yfsf] s"n jflif{s sf/f]af/df !)Ü jf ;f] eGbf a9Ln] of]ubfg ug{]
jf Joj;fosf] nflu ;+ul7t ;+:yf s'g} k|d'v u|fxs;Fu lge{/ 5 eg] tt\;DaGwL ljj/0f M sDkgL /
g]kfn ljB't k|flws/0f aLr ljB't vl/b laqmL ;Demf}tf ePsf] x'Fbf sDkgLsf] k|d'v u|fxssf] ?kdf
g]kfnljB't k|flws/0f /x]sf] 5 .
!%_ k|d'v ;Knfo;{x?sf] ljj/0f -h:t}–;+:yfsf] s"n sf/f]af/df !)Ü jf ;f] eGbf a9Ln] of]ubfg ug{]
;Knfo;{ jf Joj;fosf] nflu ;+ul7t ;+:yf s'g} k|d'v ;Knfo;{;Fu lge{/ 5 eg] t\t;DaGwL ljj/0fM
l;+u6L vf]nf hnljB't cfof]hgf @% d]=jf= sf] nflu O{n]S6«f] d]sflgsn O{SjLkd]G6sf];Knfo;{,
x'gfgPnf]gjf8{ xfO8«f] h]g]/]l6Ë O{SjLkd]G6 sDkgLln=,rfOgf af6 vl/b u/Lcfof]hgfdf h8fg ug]{ u/L
;Demf}tf ePsf] / sfo{ ;DkGg ePsf]5 .
9
u=#=v=;DklQsf] ljj/0f M
s_ ;+ul7t ;+:yfsf] pks/0f -KnfG6_ tyf cGo ;DklQ /x]sf] :yfg / pks/0f tyf ;DklQsf] cj:yf M
sDkgLsf] :jfldTjdf /x]sf] l;+u6L vf]]nf hnljB't cfof]hgfdf h8fg ePsf] KnfG6 tyf pks/0fx? bf]nvf
lhNnfsf] sflnGrf]s # l:yt ljB't u[xdf h8fg eO{ ;~rfngdf cfpg]5 . pQm cfof]hgfsf l;len ;+/rgf,
xfO8«f] d]sflgsn O{SjLkd]G6 / O{n]S6«f] d]sflgsn O{SjLkd]G6bf]nvf lhNnfsf] sflnGrf]s / lju' ufFpkflnsfdf
/x]sf5g\ . xfn;Dd sDkgLsf] gfddf >[hgf eO;s]sf] rn crn ;DklQsf] ljj/0f tn pNn]v ul/Psf] 5 .
@)&& cfiff9 d;fGt pks/0f -KnfG6_ tyf cGo ;DklQ /x]sf] cj:yf
qm=;+ ljj/0f ;Ddsf] d'No :yfg
!= sDKo'6/, kmlg{r/ tyf 29,816,516.00 l;+u6L xfO8«f] OghL{ lnld6]8sf] k|wfg —
l:y/tf sfof{no .
@= ;jf/L ;fwg 14,074,352.82 l;+u6L xfO8«f] OghL{ lnld6]8sf] k|wfg —
sfof{no .
# ;ˆ6j]o/ 79,281.00 l;+u6L xfO8«f] OghL{ lnld6]8sf] k|wfg —
sfof{no .
$ cfof]hgf vr{
e"ld / hUufsf] ljsf; 55,695,544.00 l;+u6L xfO8«f] OghL{ lnld6]8nfO{ l;+u6Lvf]nf pNn]lvt
hnljB't cfof]hgfsf] ljleGg ;+/rgfx? ;Dk"0f{
;~rfng tyf lgdf{0f ug{ . ;DklQx?
3.75 x]S6/
hUuf #$
jif{ /
c:yfoL ?kn]
$=@@ x]S6/
hUuf # jif{
;Ddsf nflu
nLh df
/x]sf 5g\
Jfftfj/0f ;+/If0f tyf 118,519,641.00
;fdflhs vr{
Kfl/of]hgf Joj:yfkg 312,168,317.00
;d{yg / OlGhlgol/Ë
Kf|f/lDes vr{ 69,398,768.00
k|;f/0f nfOg tyf 44,639,528.00
;a:6]zg vr{
k"jf{wf/ ljsf; – ;8s 172,994,520.00
lgd{f0fflwg Jofh 821,885,840.00
l;len lgd{f0fflwg sfo{ 2,585,187,562.00
sfo{no ejg tyf 25,985,003.00
pks/0f
xfO{8«f]—d]sflgsn sfo{ 306442570.00
On]S6«f] d]sflgsn sfo{ 707207020.00
hDdf 5,264,094,462.00
v_ a'Fbf -s_ df pNn]lvt ;DklQ ;+ul7t ;+:yfsf] cfkm\g} ;DklQ xf] of lnhdf lnPsf], lnhdf lnPsf] eP
lnhsf] cjlw -ldlt ;d]t pNn]v ug'{kg]{_M cfof]hgfsf] ef}lts ;+/rgfx? lgdf{0f k|of]hgsf nflu sDkgLn]
tkl;n adf]lhd hUuf vl/b u/L, ef]uflwsf/ k|fKt ul/ lnPsf] 5 . a"Fbf-!_ b]lv -$_;Dddf ;DklQx? ;+ul7t
;+:yfsf] cfkm\g} ;DklQ /x]sf] t/ hUuf lnhdf lnPsf] ljj/0f lgDgfg';f/ 5g\M
ljj/0f :yfoL If]qsf] If]qkmn-x]=_ c:yfoL If]qkmn-x]=_ hDdf If]qkmn-x]=_
l;+u6L xfO8«f] OghL{ -/fli6«o jg If]qsf] #=#^ -/fli6«o jg If]qsf] #=&@ -/fli6«o jg If]qsf] &=)*
lnld6]8nfO{ l;+u6Lvf]nf x]S6/ / uf}/Lz+s/ ;+/If0f x]S6/ / uf}/Lz+s/ ;+/If0f x]S6/ / uf}/Lz+s/ ;+/If0f
hnljB't cfof]hgfsf] If]qsf] )=#( x]S6/_ If]qsf] )=% x]S6/_ If]qsf] )=*( x]S6/_
10
ljleGg ;+/rgfx?
;~rfng tyf lgdf{0f ug{ .
hDdf If]qkmn #=&% x]S6/ $=@@ x]S6/ &=(& x]S6/
3=75 x]S6/ #$ jif{ / c:yfoL ?kn] $=@@ x]S6/ hUuf # jif{ ;Ddsf nflu nLhdf lnO{ ?=#,%)) k|yd @ jif{
;Dd ;f]xL b:t'/ x'g] / t]>f] jif{sf nflu pQm b:t'/df k|To]s jif{ bz k|ltztsf] b/n] jflif{s a[l4 x'g] /sd
a'emfpg' kg]{ a'emfO{Psf] 5 . pQm nLh lgdf{0fflwg sfo{sf] nflu lnOPsf] / nLh cjlw ;dflKt ePkl5 g]kfn
;/sf/nfO{ lkmtf{ ul/g] 5 .
u_ olb ;DklQ ;+ul7t ;+:yfsf] :jfldTjdf /x]sf] ePdf pQm ;DklQ dfly s'g} lnog jf df]6{u]h eP ;f]
;DaGwL ljj/0f M sDkgLsf] :jfldTjdf /x]sf] ;DklQ cfof]hgf ;~rfng tyf lgdf{0fsf] nflu lnPsf] shf{sf]
nflu ln8 a}+s, l;len a}+s lnld6]8dflwtf] aGws /x]sf] 5 .
3_ ljj/0fkq af]8{df k]z ul/Psf] ldltdf ;+ul7t ;+:yfsf] ;DklQsf] lstfaL d"No / ahf/ d"No aLr km/s
ePdf ;f]sf] ljj/0f M sDkgLsf] ;DklQx?sf] d"No k/n df]ndf g} /flvPsf] / k'g{d"NofÍg ul/Psf] 5}g .
ª_ ;DklQsf] d"NofÍgul/Psf] t/Lsf ;DaGwL ljj/0f M sDkgLsf] ;Dk"0f{ ;DklQx? P]ltxfl;s nfut d"Nodf
d"NofÍg ul/Psf] 5 .
u=#=u= efjL of]hgf tyf /0fgLlt M

s_Joj;fo÷;]jfsf] j[l4sf nflu ;+:yfsf] efjL of]hgf / To:tf] of]hgfsf] k|fKtLsf nflu rflng] ;doj4 /0fgLlt
M
sDkgLn] cfˆgf] Joj;fo÷;]jfsf] a[l4sf nflu rfNg] efjL of]hgf / To:tf] of]hgfsf] k|flKtsf nflu rflng]
;doj4 /0fgLlt lgDgfg';f/ 5g\ .
 sDkgLsf] d'Vo p2]Zo g]kfnsf] hnljB't ljsf;df Ps cu|0fL sDkgLsf] ?kdf :yflkt ug]{ .
 gofF hnljB't cfof]hgfx?sf] ;DefJotf cWoog u/L cGo hnljB't cfof]hgfx? ;d]t lgdf{0f
ug]{ .
 sDkgLn] ;/sf/L lgsfox?;Fu ePsf] ;Demf}tf adf]lhd b]zdf /x]sf] hn>f]tsf] clwstd pkof]u
u/L ljB't pTkfbg ug]{ / ;f] nfO{ g]kfn ljB't k|flws/0fnfO{ laqmL u/L b]zsf] hgtfn] xfn ef]lu/x]sf]
nf]8;]l8Ësf] df/nfO{ s]lx xb;Dd sd ug{ sDkgL k|lta4 /x]sf] 5 .
 sDkgLn] cfkm\gf] p2]Zo k|flKtsf nflu Aoj;flos ?kdf ;DefJo b]lvPsf] hnljB't cfof]hgfx?df
nufgL ug]{ .
v_ k|lt:kwf{, ljBdfg cfly{s l:ylt / ;dfg lsl;dsf] pBf]usf] l:ytLsf] cfwf/df ;+ul7t ;+:yfsf] Joj;fosf]
eljio M
g]kfndf hnljB't pTkfbgsf] k|r'/ ;+efjgf /x]sf] ePklg jt{dfg cj:yfdf ljB'tsf] dfu / cfk'lt{ aLr
7"nf] vf8n /x]sf] 5 . h;n] ubf{ g]kfnL hgtfn] rsf]{ nf]8;]l8ªsf] df/ v]Kg' kl//x]sf] 5 . o;sf] kof{Kt
ljsf; x'g ;s] l5d]ls d'n'sx?df lgof{t ug{ klg ;lsG5 . To;}n] of] Joj;fodf k|lt:kwf{sf] cj:yf cfpg]
5}g . o;y{ sDkgLn] cfˆgf] Joj;fosf] lg/Gt/tfsf nflu cufl8 a9fPsf hnljB't cfof]hgfx?sf] lgdf{0f /
cGo cfof]hgfsf] klxrfg tyf ljsf; ubf{ cGo a:t'sf] h:tf] k|lt:kwf{ ug'{ kb}{g .
u=#=3=;~rfns ;ldltsf] ;+/rgf / k|ltlglwTj ;DaGwL Joj:yf M
sDkgLsf] lgodfjnLsf] lgod @& df ePsf] Joj:yf cg';f/ &-;ft_ hgf ;~rfns ;b:o /x]sf] ;~rfns
;ldlt /xg] Joj:yf 5 . ;~rfns ;ldltdf ;~rfns ;b:ox¿sf] k|ltlglwTj b]xfo adf]lhd /x]sf] 5 .
;d"x æsÆ z]o/wgLx¿af6 dgf]lgt jf lgjf{lrt ;~rfnsx¿ $ hgf

;d"x ævÆ cGtu{tsf ;j{;fwf/0f ;d"xsf z]o/wgLx¿af6 lgjf{lrt
@ hgf
;~rfnsx¿ -kl5 lgo"lQm ul/g]5 .
Joj;flos ljz]if1af6 ;~rfns ! hgf
hDdf & hgf
sDkgLsf] lgodfjnL lgod @* df ePsf] Joj:yf cg';f/ ;~rfns x'gsf] nflu sDkgLsf] sDtLdf %)
-krf;_ lsQf z]o/ cfˆgf] gfddf vl/b u/]sf] x'g' kg{]5 t/ :jtGq ;~rfns / ;+ul7t ;+:yfsf] k|ltlglw
;+rfnssf] xsdf of] Joj:yf nfu' x'g] 5}g .
11
u=$=kF"hL ;+/rgf ;DaGwL hfgsf/L
u=$=s_ k"FhLsf] ;+/rgf:
!_ clws[t k"FhL(Authorised Capital):
sDkgLsf] clws[t k"FhL ?= @,)),)),)),)))÷– -b'O{ ca{ dfq_ x'g] 5 . ;f] k"FhLnfO{ k|lt z]o/ ?=!))÷– b/sf
@,)),)),))) -b'O{ s/f]8_ yfg ;fwf/0f z]o/df ljefhg ul/Psf] 5 .
@_ hf/L k"FhL (Issued Capital):

sDkgLsf] tTsfn hf/L ug]{ z]o/ k"FhL !,$%,)),)),)))÷– -Ps ca{ k}tfnL; s/f]8 dfq_ x'g] 5 . ;f]
k"FhLnfO{ k|lt z]o/ ?=!))÷– b/sf !,$%,)),))) -Ps s/f]8 k}tfnL; nfv_ yfg ;fwf/0f z]o/df ljefhg
ul/Psf] 5 .
#_ r'Qmf k"FhL (Paid up Capital):

sDkgLsf] hf/L k"FhL dWo] ;+:yfksx?n] tTsfn r'Qmf u/]sf] k"FhL ?= !,)!,%),)),)))÷– -Ps ca{ Ps s/f]8
krf; nfvdfq_ /x]sf] 5 . pBf]u clt k|efljt tyf k|efljt If]qsf afl;Gbfx?af6 ?=!,$%),)),)))÷– -cIf/]kL
rf}w s/f]8 krf; nfv dfq_r'Qmf x'g] / afFsL ?= ?=@,()),)),)))÷—-cIf/]kL pgfGtL; s/f]8 dfq_ /sd
a/fa/sf] z]o/ ;fj{hlgs lgisfzgkZrft\\ sDkgLsf] r'Qmf k"FhL ?= !,$%,)),)),)))÷–- Ps ca{ k}tfln;
s/f]8dfq_x'g]5 .
u=$=Vf= ;fwf/0f z]o/ lgisfzgu/L afF8km+Ff6 u/] kZrft\\ x'g] r'Qmf kF"hLsf] ;+/rgf M
e'QmfgL
z]o/ lsQf
;d'x z]o/wgL k"FhL;+/rgf r"Qmf /sd -?=_ k|ltzt
-s_ ;+:yfks z]o/wgL !,)!,%),))) &)Ü !,)!,%),)),))) !))

-v_ pBf]u clt k|efljt tyf k|efljt If]qsf !$,%),)),))) –
afl;Gbf !$,%),))) !)Ü
-u_ ;j{;fwf/0fx? -sd{rf/L ;d]t_ @(,)),))) @)Ü @,()),)),))) –
hDdf 1,45,00,000 !))Ü 1,45,00,00,000
u=$=u_ z]o/ lk|ldod vftf -lgisfzgk"j{ / lgisfzgkZrft\\_ M z]o/df lk|ldod vftfsf] Joj:yf xfn g/x]sf]
u=%=;+:yfks÷;+rfns ;DaGwL hfgsf/L M
u=%=s= ;+:yfks÷;+rfnssf] k[i7e"dL M

s_ cfwf/e't z]o/wgLx? tyf ;+rfnsx?sf] gfd, kb, pd]/, /fli6«otf, 7]ufgf, z]o/ :jfldTj, z}lIfs of]Uotf,
cg'ej / k|:tfljt Jofkf/÷Joj;fodf cg'ej M
cfwf/e't z]o/wgLsf] ljj/0fM
z]o/ z}lIfs cg'ej-;DalGwt_
qm=;+= gfd /fli6«otf 7]ufgf
pd]/ :jfldTj of]Uotf hnljB't If]qdf cg'ej -cGo_
k|jL0ftf xfn l;+u6L xfO8«f] /f]on ;fO{gf]
k|df0f kq OghL{ ln=df ;~rfns /]:6'/06 P08 af/
– eO{ cfj4 /x]sf] . k|f=ln= df
Joj:yfkg ;~rfns /x]sf]
1 8f]Ndf nldgL ^@ g]kfnL ;f]n'v'Dj' 399,500
;fy} ljleGg
x:tsnf
Jofkf/x?df cfj4
/x]sf] .
xfn l;+u6L xfO8«f]
2 u0f]z sfsL{ %@ :gfts– OghL{ ln=df sfo{sf/L
g]kfnL 6,36,455 Joj:yfkg lgb]{zssf] ?kdf cfj4
/x]sf] / ;fy} ljleGg
12
xfO8«f] k|f]h]S6x?df
cfj4 /x]sf] .
cfofd xfO{8«f] sf=lh=sf=d 2,40,00
3 OGe]i6d]06; k|f= =kf=!%
0
nL= sf7df08f}+
t]Gb'nL cGt/fli6«o
:gfts– /f]huf/ ;]jf
4 b]j]; k|;fO{ sf]xa/f, % k|f=ln=df cWoIf
%@ g]kfnL 297,160 OG6]l/o/
emfkf l8hfOg/ /x]sf].
8; OGe]i6d]G6
5 P08 d]g]hd]G6 sf7df08f}+ 383,500
k|f=ln=
o'gfO6]8 df]bL g]kfn r]Da/ ckm
:gfts– xfO8«f]kfj/ k|f=ln=/ sd{; ;ldltsf
Joj:yfkg l;+u6L xfO8«f] OghL{ ;b:o, b]j ;]leË
ln=sf ;+rfns, t:sf/ P08 qm]l86
lkv'jf vf]nf xfO8«f]kfj/ ;xsf/L ;+:yf
k|f=ln=sf sfo{sf/L lnld6]8df -
clws[t, g]kfn r]Da/ clk|n @))& b]lv
ckm sd{;sf ;ldlt cu:6 @)!# ;Dd
;b:o, sDkn]S; _ sfo{sf/L
8]e]nf]k/ lnOh/ ;+3sf clws[t tyf -
sf]ifWoIf /x]sf . cu:6 @)!# b]lv
g/]Gb| jNne xfn;Dd_
6
kGt sf=lh=sf=d 253,660
cy{zf:q tyf
#^ g]kfnL =kf= @$ kmfOgflG;on
sf7df08f}+ ;'emfjstf{sf]
?kdf sfo{/t ,
sDkn]S; 8]e]nf]k/
P;f]l;o;gsf];d]
tcg'ej /x]sf]
tyf
dfOqmf]kmfOgfG;
If]qdf sl/a !)
jif{sf] cg'ej
ePsf] .
a}ea kfj/ g]kfn
k|f=ln=, lsPgsfË
Pnf]gjf8{ xfO8«f] —
OlSjkd]G6 s+= k|f=ln=,
:gfts– l;+u6L xfO8«f] OghL{
Joj:yfkg ln=df cWoIf,tyf a}i0ff]
b]lj xfO8«f] kfj/df
sfo{sf/L cWoIf /x]sf].
7 a6' nfld5fg]
sf=lh=sf=d vfgL vf]nf xfO8«f] kfj/
=kf= )$ k|f=ln=, o'lgog xfO8«f]
%$ g]kfnL sf7df08f}+ 8,31,455 kfj/ ln=, lahL xfO8«f]
OGe]i6d]06 k|f=ln=, lahL
u|'k k|f=ln= tyf j}lbs
xfO8«f] OGe]i6d]06
s+=k|f=ln df ;~rfns
/x]sf] .
sf=lh=sf=d On]lS6«sn If]qdf
8 j0f{g nfdL5fg] g]kfnL =kf= )$ 200,000 ljut $ jif{sf] cg'ej
sf7df08f}+ /x]sf] .
sf=lh=sf=d
slatf
9 g]kfnL =kf= )$ 300,000
nfdL5fg]
sf7df08f}+ g/x]sf] .
af:s xfO{8]n sf lh sf
10 O{Ge]id]G6 g]kfnL d=kf !% 490,000
sDkgL k|f=ln= sf7df08f} .
sf lh sf cGo
11 v'ij' >]i7 g]kfnL d kf ! 178,000 If]qsf] cg'ej
sf7df08f} . /x]sf] .
13
cf/ ;L xfO{8«f]
sf=lh=sf=d
O{Ge]i6d]G6
=kf=$
12 k|f=ln= 856,500
k~ra'¢ xfO{8«f]
O{Ge]i6d]G6
13 k|f=ln= 375,000
g]kfnL nlntk'/,$ lrlsT;ssf]

14 o' Pg dx{hg 500,000 cg'ej /x]sf] .
15 o'u h+u sfsL{ g]kfnL nlntk'/,$ 500,000 ljBfyL{ /x]sf] .
;~rfnsx?sf] ljj/0f M
z]o/ cg'ej-;DalGwt_ cg'ej
qm= :jfldTj z}lIfs hnljB't If]qdf -cGo_
;+= gfd kb pd]/ /fli6«otf 7]ufgf lsQf of]Uotf
:gfts– a}ea kfj/ g]kfn Xfn lsPgsfË
Joj:yfkg k|f=ln=df- @))^ b]lv Pnf]gjf8{ xfO8«f] —
xfn;Dd_ , l;+u6L OlSjkd]G6 s+=
xfO8«f] OghL{ ln=df k|f=ln=df
-@))^ b]lv cWoIf,lqmd
xfn;Dd_ cWoIf,tyf xfO8]n k|f=ln=,
a}i0ff] b]lj xfO8«f] la=lh xfO8Ff]
kfj/df -@))% b]lv OGe]i6d]G6 k|f=ln=/
xfn;Dd_ sfo{sf/L la=lh u|'k k|f=ln=
cWoIf /x]sf]. vfgL df ;~rfns,
vf]nf xfO8«f] kfj/ k|aGws lgb]{zs –
>L a6' sf=lh=sf=d k|f=ln df -@)!@ b]lv lkm;6]n sfk]{6 -
nfld5f cWoIf %$ g]kfnL =kf= )$ 8,31,455 xfn;Dd_=, o'lgog !((! – !(((_
g] sf7df08f}+ xfO8«f] kfj/ ln=df- / lgb]{zs –
!= @)!% b]lv xfn;Dd_, o'lge{;n sf]O
lahL xfO8«f] k|f=ln=-!((! –
OGe]i6d]06 k|f=lndf - !(($_, pu|tf
@)!$ b]lv xfn;Dd_ 6]«l8Ë sDkgL
lahL u|'k k|f=ln=df - k|f=ln=-!((! –
@)!! b]lv xfn;Dd_ !((%_, l;4L
tyf j}lbs xfO8«f] ljgfos pmn
OGe]i6d]06 s+=k|f=ln sf/l8Ë -!((! –
df -@)!! b]lv !((%_
xfn;Dd_ ;~rfns
/x]sf] .
xfn l;+u6L xfO8«f] la=lh k|f=ln= df
OghL{ ln=df sfo{sf/L cWoIfsf]
:gfts– sfo{sf/L lgb]{zssf] ?kdf cfj4 /x]sf]
Joj:yfkg ?kdf cfj4 /x]sf] . . lqmd xfO8]n
lkk'N; xfO8«f] kfj/ k|f=lndf
k|f= ln, j}ej kfj/ lgb]{zssf] ?kdf
g]kfn k|f=ln / a]gL cfa4 /x]sf] . ;fy}
>L sfo{sf/L xfO8«f] kfj/ k|f= ln v]ns'b tyf cGo
rfalxn,sf df sfo{sf/L ;fdflhs
u0f]z ;~rfn %@ lgb]{zssf] ?kdf lhDd]jf/Ldf ;+nUg
@= g]kfnL 7df08f}+ 636,455
sfsL{ s cfa4 /x]sf] . /x]sf] .
u|LgnfOkm Og{hL{ k|=
ln, lzj >L
xfO8«fkfj/ sDjgL
ln= / u]n'Ë vf]nf
xfO8«f]kfj/ k|f= lndf
;+:yfkssf] ?kdf
cfa4 /x]sf] .
k|jL0ftf xfn l;+u6L xfO8«f] /f]on ;fO{gf]
>L k|df0f kq – OghL{ ln=df /]:6'/06 P08 af/
;~rfn Joj:yfkg ;~rfnsdf cfj4 k|f=ln= df
8f]Ndf /x]sf] . ;~rfns /x]sf]
#= s g]kfnL ;f]n'v'Dj' 399,500
nldlg ;fy} ljleGg
x:tsnf
14
Jofkf/x?df cfa4
/x]sf] .
:gfts– o'gfO6]8 df]bL g]kfn r]Da/ ckm
Joj:yfkg xfO8«f]kfj/ k|f=ln=df sd{; ;ldltsf
-cS6f]a/ @)!@ b]lv ;b:o, b]j ;]leË
xfn;Dd_ / l;+u6L P08 qm]l86
xfO8«f] OghL{ ln=df - ;xsf/L ;+:yf
h'nfO @)!$ b]lv lnld6]8df - clk|n
xfn;Dd_ ;+rfns @))& b]lv cu:6
tyf t:sf/ lkv'jf @)!# ;Dd _
vf]nf xfO8«f]kfj/ sfo{sf/L clws[t
>L k|f=ln=df sfo{sf/L tyf -cu:6 @)!#
g/]Gb| ;~rfn clws[t /x]sf] . b]lv xfn;Dd_
sf=lh=sf=d cy{zf:q tyf
aNne s
#^ g]kfnL =kf= @$ 2,53,660
kmfOgflG;on
$= kGt
sf7df08f}+ ;'emfjstf{sf]
?kdf sfo{/t ,
sDkn]S; 8]e]nf]k/
P;f]l;o;gsf];d]t
cg'ej /x]sf] tyf
dfOqmf]kmfOgfG;
If]qdf sl/a !)
jif{sf] cg'ej
ePsf] .
Kl5Nnf] !) jif{
:gfts– b]lv t]Gb'nL
OG6]l/o/ cGt/{fli6«o /f]huf/
l8hfOg/ ;]jf k|f=ln=df
cWoIf, sf]l/odf
>L b]j]; ;~rfn Interior
sf]xa/f, % Designer df %
%= k|;fO{ s %@ g]kfnL 297,160
emfkf jif{sf] sfof{g'ej,
sf]l/odf
k/fdz{bftfsf]
?kdf cfj¢ /x]sf]
.
a}ea kfj/ g]kfn g]kfn /fˆ6LË tyf
>L :gfts– k|f=ln=, l;+u6L xfO8«f] Sogf]OË ;+3sf]
;'bLk ;~rfn Joj:yfkg OghL{ ln=df ;+rfns sDkgL ;lrj /
Dfxf/fhu+h, . ko{6g tyf 6«feN;
^= /fh s %% g]kfnL 20,000
sf7df08f}+ sDkgLx?df cfj4
uf}td
/x]sf] .
kL Pr=l8— xfn l;+u6L xfO8«f] /hgL :6f/ k|f=ln=
/fhlglts OghL{ ln=df sf sfo{sf/L k|d'v,
>L lj1fg ;~rfnsdf cfj4 /hgL ;r]tgf
;~rfn Wffkf;L, /x]sf] . g]kfn ;+3 sf
/hgL 1,00,000 cWoIf tyf c?
&= s @& g]kfnL )$, 6f]vf,
yfkf ;f]l;on
sf7df08f}+
k|f]h]S6x?df cfj4
/x]sf] .
v_ ;+:yfksx? s'g} sDkgL÷;+:yf ePdf To:tf] sDkgL÷;+:yfsf] gfd tyf 7]ufgf ;lxtsf] ;+lIfKt ljj/0f /
pQm sDkgL÷;+:yfsf ;+rfnsx?sf] gfd, 7]ufgf-k|fs[lts JolQm gv'n];Dd_ M
qm=;+ ;+:yfsf] gfd tyf 7]ufgf ;+rfnsx?sf] gfd, 7]ufgf ;+lIfKt ljj/0f
!= >L /fd >]i7, 7d]n, sf7df08f}+ – hnljB't If]q tyf cGo If]qdf
cWoIf . sfo{ ug]{ u/L sDkgL /lhi6«f/
@= >L /fd k|;fb ;fksf]6f – ;+rfns, sfof{nodf ldlt @)^^÷)$÷!(
lqk'/]Zj/, wflbË . df btf{ ePsf] .
!= cfv'vf]nf hnljB't sDkgL #= >L gf/fo0f k|;fb cof{n –;+rfns,
ln= gfnË–)#, wflbË .
$= >L lbg]z k|;fb cof{n –;+rfns,
axfb'/h+u,)$, slknj:t' .
%= >L g/x/L k'8f;}gL– ;+rfns, hf]/kf6L,
sf7df08f}+ .
15
!= >L snf l;jfsf]6L ,sf7df08f}+, )$ – xfO8«f]kfj/ If]qsf nufgL ;DaGwL
@= cWoIf . Jofj;fo ug]{ u/L btf{ ePsf] .
>Ls[i0f OGe]i6d]06; P08
@=>L ;/f]hf l;jfsf]6L , e/tk'/, lrtjg
d]g]hd]06 sG;lN6Ë k|f=ln=
–;+rfns .
!= >L /fh s'df/ >]i7 ,l;Gw'kfNrf]s – ljB't pTkfbg tyf ljt/0f ug]{
#= cWoIf . ;DaGwL of]hgfx?df nufgL ug]{ /
cfofd xfO{8«f] OGe]i6d]06; @= >L afns[i0f dxh{g, sf7df08f}+ – Jofj;fo jf sf/f]af/ ;]jfd"ns
k|f= nL= ;+rfns . tyf Jofkf/d"ns sfo{ ug]{ ul/
#= >L z'lzn sfhL t'nfw/, sf7df08f}+ – btf{ ePsf] .
;+rfns .
!= >L sljtf nfld5fg], sf7df08f}+ – nufgL ;DaGwL Jofj;fo ug]{ u/L
$= ;+rfns . sDkgL /lhi6«f/ sfof{nodf ldlt
a}lbs xfO{8«f] OGe]i6d]G6 @= >L o"Pg dxh{g, nlntk'/–)# – @)^&÷!@÷!$ df btf{ ePsf] .
sDkgL k|f=ln= ;+rfns .
#= >L dlGbk vgfn, sf7df08f}+ – ;+rfns
.
%= != >L lbks af]x/f, sf7df08f}+–)$ – xfO8«f]kfj/ If]qsf nufgL ;DaGwL
8; OGe]i6d]G6 P08 d]g]hd]G6 ;+rfns . Jofj;fo ug]{ u/L btf{ ePsf] .
k|f=ln= @=>L kjg s'df/ xnjfO{, ?kGb]xL –
;+rfns .
!=>L 1fg]Zj/ sIfktL,u'NdL – cWoIf . hnljB't pTkfbg, pTkfbgd"ns
^= @=>L /fhg k|sfz dfgGw/,sf7df08f}+ – / ;]jf d"ns pBf]u Jofj;fo
af:s xfO{8]n O{Ge]id]G6
;+rfns . ;DaGwL ;]jf ug]{ u/L sDkgL
sDkgL k|f=ln=
#=>L clgtf zfSo- t'nfw/_,sf7df08f}+ – /lhi6«f/ sfof{nodf ldlt
;+rfns @)&!÷)*÷!^ df btf{ ePsf] .
hnljB't pTkfbg, pTkfbgd"ns
&= / ;]jf d"ns If]qdf ;d]tdf
cf/ ;L xfO{8«f] O{Gd]id]G6 != >L /d]z>]i7, sf7df08f}+ – cWoIf .
sf/f]af/ ug]{ u/L sDkgL /lhi6«f/
k|f=ln= @ =>L 5d' >]i7, sf7df08f}+ – ;+rfns .
sfof{nodf ldlt @)&@÷)*÷!$
df btf{ ePsf] .
!= >L s'df/ bf; dfgGw/, sf7df08f}+– hnljB't pTkfbg, pTkfbgd"ns
;+rfns . / ;]jf d"ns pBf]u Joj;fo
*= @= >L ls/0f dfgGw, sf7df08f}+– ;+rfns ;DaGwL ;]jf ug]{ u/L sDkgL
kGr j'Wb xfO{8«f] O{Gd]id]G6 . /lhi6«f/ sfof{nodf ldlt
k|f=ln= #= >L pQd dfgGw/, sf7df08f}+– ;+rfns @)&!÷)^÷@$ df btf{ ePsf] .
.
$= >L s~rg gf/fo0f dfgGw/,
sf7df08f}+– ;+rfns .
!=>L lbksdfg >]i7 sf7df08f}+–@* cf}iflw, ;lh{sn ;fdu|L tyf cGo
cWoIf . :jf:Yo;Fu ;DalGwt ;fdfgx?
@=>L uh]Gb|dfg >]i7, g'jfsf]6, )# – yf]s tyf v'b|f d'Nodf cfoft
(= ;+rfns . lgof{t u/L :jb]zdf ljb]zdf
#=gle{s OG6/g]zgn x:kL6n P08 v/Lb ljs|L sfo{ ug]{ p2]Zo lnO{
d]l8sn sn]h k|f=ln=sf] tkm{af6 >L sDkgL /lhi6«f/ sfof{nodf ldlt
/fh]Gb| axfb'/ l;+x, aemfË–)% – ;+rfns @)^^÷!!÷@& df btf{ ePsf] .
.
gle{s kmfd]{;L
$= gle{s OG6/g]zgn x:kL6n P08
d]l8sn sn]h k|f=ln=sf] tkm{af6 >L
dlgif s'df/ v]dsf, k;f{, lj/u+h –
;+rfns .
%= gle{s OG6/g]zgn x:kL6n P08
d]l8sn sn]h k|f=ln=sf] tkm{af6 >L
xg'dfg uf]N5f, df]/ª –(, lj/f6gu/ –
;+rfns .
!=>L b]j /fh tfdfË, a;'Gw/f–)#, ljlaw ljw'tLo ;/;fdfgsf]
!)= xf]Ghg On]lS6«sn sf7df08f}+ – cWoIf . sf/f]jf/ ug]{ u/L sDkgL /lhi6«f/
OGlhlgol/Ë k]mlj|s]6/ k|f=ln= @=>L nfb'/fd tfdfË, a;'Gw/f–)#, sfof{nodf ldlt @)$(÷)%÷#)
sf7df08f} – ;+rfns . df btf{ ePsf] .
16
!! != b]jfg l;x yfkf, j'6jn g=kf=– !@ ljw'lto tyf cljw'lto pks/0f
?kGb]lx –;+rfns cWoIf h8fg tyf dd{t ug]{ ;Nnfxfsf/
@= lzj k|;fb clwsf/L , j'6jn g=kf=– O{lGhlgo/x?, ljw't pTkfbg tyf
^ ?kGb]lx –;+rfns ljt/0f .
#= ;'lbk/fh uf}td, sf=d=kf= # sf7df08f}
qmLd xfO8]n k|f=ln= –;+rfns
$= ;'/]Gb| eQ dfy]df , sf=d=g=kf=– @#
sf7df08f} –;+rfns
%= nId0f b]jsf]6f , j'6jn g=kf=– !!
?kGb]lx –;+rfns
!@ != /]zd nfdf , sf=d=g=kf !% sf7df08f} rd]gfu[x ;+rfng ug]{, cGo
–cWoIf . cfly{s sf/f]jf/sf ;+:yfx? ,
@= bfjf bf]h]{ nfdf, dR5] l/on :6]6 ;DalGw sf/f]jf/x? .
/L8f6f k|f=ln= )*sfe|]knfGrf]s – k|aGw lgb]{zs
#= ;fu/ of]Ghg nfdf, sf=kf=g=kf
!%sf7df08f}– ;+rfns
!# != u0f]z sfsL{, tf]kuf5L– )( sf7df08f}– ljw't pTkfbg tyf ljt/0f.
;+rfns cWoIf
la=lh= u|'k k|f=ln= @. j6' nfld5fg] , j'9flgns07 – )$
sf7df08f}– ;+rfns
u_ ;+ul7t ;+:yfsf ;+rfnsx?, cGo s'g} ;+:yf, sf]if ;+u7g;+u cfj¢ eP To:tf] ;+rfns / cfj¢ ePsf]
;:yfsf] gfd 7]ufgf M
qm=;+ gfd ;DalFGwt /x]sf] ;+:yf, kmd{ / sDkgLx?
cWoIf – a}ea kfj/ g]kfn k|f=ln=, lsPgsfË Pnf]gjf8{ xfO8«f]—
OlSjkd]G6 s+= k|f=ln=
l;+u6L xfO8«f] OghL{ ln=df,tyf al;gf] b]lj xfO8«f] kfj/df
!= a6' nfld5fg], sf=lh=sf=d=kf= )$ sf7df08f}+ sfo{sf/L cWoIf
;~rfns – vfgL vf]nf xfO8«f] kfj/ k|f=ln=, o'lgog xfO8«f] kfj/
ln=, lahL xfO8«f] OGe]i6d]06 k|f=ln=, lahL u|'k k|f=ln= tyf j}lbs
xfO8«f] OGe]i6d]06 s+=k|f=ln
@= xfn l;+u6L xfO8«f] OghL{ ln=df sfo{sf/L lgb]{zssf] ?kdf cfj4
u0f]z sfsL{, Rffjlxn, sf7df08f}+
/x]sf] / ;fy} ljleGg xfO8«f] k|f]h]S6x?df cfj4 /x]sf] .
xfn l;+u6L xfO8«f] OghL{ ln=df ;~rfnsdf cfj4 /x]sf] . /f]on
#= 8f]Ndf nldlg, ;f]n'v'Dj' ;fO{gf] /]:6'/06 P08 af/ k|f=ln= df ;~rfns /x]sf] ;fy} ljleGg
x:tsnf Jofkf/x?df cfj4 /x]sf] .
;+rfns – o'gfO6]8 df]bL xfO8«f]kfj/ k|f=ln=/ l;+u6L xfO8«f] OghL{
ln=
$= g/]Gb| aNne kGt, sf=lh=sf=d=kf= @$,sf7df08f}+ sfo{sf/L clws[t – 6S:ff/ lkv'jf vf]nf xfO8«f]kfj/ k|f=ln=
g]kfn r]Da/ ckm sd{;sf ;ldlt ;b:o, sDkn]S; 8]e]nf]k/
lnOh/ ;+3sf sf]ifWoIf /x]sf .
%= b]j]; k|;fO, sf]xa/f, % emfkf t]Gb'nL cGt/f}li6«o /f]huf/ ;]jf k|f=ln=df cWoIf /x]sf] .
g]kfn /flˆ6Ë tyf Sogf]OË ;+3sf] sDkgL ;lrj / ko{6g tyf
;'bLk /fh uf}td, Dfxf/fhu+h,sf7df08f}+
^= 6«feN; sDkgLx?df cfj4 /x]sf] .
/hgL :6f/ k|f=ln= sf sfo{sf/L k|d'v, /hgL ;r]tgf g]kfn ;+3
/hgL yfkf, Wffkf;L, )$, 6f]vf, sf7df08f
&= sf cWoIf tyf c? ;f]l;on k|f]h]S6x?df cfj4 /x]sf] .
“;"rLs[t ;Ël7t ;+:yfx?sf] ;+:yfut ;'zf;g ;DaGwL lgb]{lzsf, @)&$” sf] ;Dk"0f{ Joj:yfx? tyf sDkgL P]g, @)^# sf]
bkmf *( sf] pkbkmf-!_ 5 sf] klg Kffngf ePsf] 5 .
3_;+:yfks÷;+rfnssf] xs x:tfGt/0f aGb]h ;DaGwL ljj/0f M

c_ z]o/ vl/b jf x:tfGt/0f ug{ jf lwtf]aGws /fVg ;~rfns ;ldltsf] k"j{ :jLs[lt lng'kg]{5 . :jLs[lt
lagf ul/Psf] z]o/ vl/b jf x:tfGt/0f dfGo x'g] 5}g .
cf_ ;j{;fwf/0f z]o/wgL ;d"x afx]s cGo ;d"x-;+:yfks / cGo ;d"x_ n] lnPsf] z]o/ ;+ul7t ;+:yfn]
;fj{hlgs lgisfzgu/]sf] z]o/ afF8kmfF8 ePsf] ldltn] tLg jif{sf] cjlw k"/f geO{ laqmL ug{ kfOg] 5}g.
17
u=%=v=;+:yfks÷;~rfns ;Fusf] sf/f]af/ M
s_ ;+ul7t ;+:yfaf6 s'g} ;+:yfks÷;~rfnsn] k|ToIf jf ck|ToIf ?kdf s'g} j:t' jf ;'ljwf -cfly{s jf
u}/cfly{s_ k|fKt u/]sf jf k|fKt ug]{ ePdf To:tf] j:t' jf ;'ljwfsf] k|s[lt / d"No / To:tf] ;'ljwf lbP afkt
;+ul7t ;+:yfn] s'g} ;DklQ, ;]jf k|fKt u/]sf] jf ug]{ ePdf tT;DaGwL ljj/0f M
sDkgLsf] ldlt @)&%÷)(÷#) ut]sf] gaf} jflif{s ;fwf/0f ;efsf] lg0f{o cg';f/ ;~rfns ;ldltn] lng]
kfl/>dLs, ;]jf ;'ljwf b]xfo adf]lhd /x]sf] 5 ;fy} lhDd]jf/L sDkgLsf] lgodfjnLdf pNn]v eP adf]lhd
/xg] 5 .
>L a6' nfld5fg], cWoIf
Kffl/>dLs M 5}g
lhDd]jf/L M ;+rfns cWoIf
!_ cfof]hgf lgdf{0fsfo{sf] ;Dk"0f{ lhDd]jf/L .
@_ ;+rfns ;ldltn] tf]s] afdf]lhd cGo sfo{x? .
>L u0f]z sfsL{, sfo{sf/L ;~rfns

Kffl/>dLs M dfl;s ? #,%),)))
lhDd]jf/L M sfo{sf/L ;Grfns
!_ k|wfg sfof{nosf] ;Dk"0f{ lhDd]jf/L .
@_ ;+rfns ;ldltn] tf]s] afdf]lhd cGo sfo{x? .
cGo ;~rfnsx?sf] xsdf dfifLs ?kdf cWoIfsf] ?= !*,))) / ;b:ox?sf] !#,)))- oftfoft, 6]lnkmf]g,
kqklqsf tyf :6]zg/L vr{_ dfl;s lbg] lg0f{o eP adf]lhd /x]sf] 5 .
v_ a'Fbf -s_ df pNn]lvt j:t' jf ;'ljwfsf] d"No lgwf{/0f ug{ ckgfOPsf] tl/sf M ;f] gePsf] .
u=^=;Lldt bfloTj ;DaGwL ljj/0f M

o; sDkgL k|rlnt sDkgL sfg'g cGtu{t :yflkt tyf ;~rflnt klAns lnld6]8 sDkgL xf] . o;df
z]o/wgLx?sf] bfloTj ;Lldt 5 . o; sDkgLsf] z]o/wgLsf] bfloTj lghn] vl/b u/]sf] jf vl/b ug{ sa'n
u/]sf] z]o/sf] clwstd /sd;Dd dfq ;Lldt /xg]5 .
u=&= ;+ul7t ;+:yfsf] sd{rf/L ;DaGwL ljj/0f M
u=&=s=;+ul7t ;+:yfsf] pRr Joj:yfksLo txsf clws[t sd{rf/Lx? ;DaGwL ljj/0f M
s_;+ul7t ;+:yfsf] pRr Joj:yfksLo txsf sd{rf/Lsf] gfd, of]Uotf, lgo'lQm ePsf] ldlt, klxn] sfd u/]sf]
cg'ej tyf ;+ul7t ;+:yfsf] z]o/ lnPsf] eP z]o/ ;+Vof ;DaGwL ljj/0f .
qm=;+= sd{rf/Lsf] kb z}lIfs lgo'lQm ldlt z]o/ sfof{g'ej
gfd of]Uotf lsQf
xfn l;+u6L xfO8«f] OghL{
sfo{sf/L ln=dfsfo{sf/L lgb]{zssf] ?kdf
!= u0f]z sfsL{ :gfts @)&%÷!)÷)@= 636,455
lgb]{zs cfj4 /x]sf] / ;fy} ljleGg xfO8«f]
k|f]h]S6x?df cfj4 /x]sf] .
ljut !& jif{ b]lv xfO8«f] If]qx?df
@= /d]z clwsf/L sDkgL ;lra :gfts @)&)÷!)÷)! !&,))) sfof{g'ej /x]sf] .
ljut #) jif{ b]lv xfO8«f] If]qx?df
dgx/L cfof]hgf ;fO6 OGrfh{, k|f]h]S6 Dofg]h/,
#= :gfts @)&)÷!)÷)! ^#,)))
;fksf]6f k|aGws ;fO6 OlGhlgo/ tyf ljleGg kbdf
sfo{g'ej /x]sf] .
v_ sDkgLsf sd{rf/Lx? cGo s'g} ;"lrs[t ;+ul7t ;+:yfsf] cfwf/e"t z]o/wgL eP jf cGo s'g} ;+ul7t
;+:yfdf nufgL u/]sf] eP pQm ;+ul7t ;+:yfsf] gfd / nufgL ;DaGwL ljj/0fM;f] gePsf] .
18
u_ ljj/0fkq af]8{df k|:t't ug{' eGbf ! jif{ cufl8sf] cjlwdf lgod cg';f/ cjsfz k|fKt ePsf] cj:yf
afx]s ;+ul7t ;+:yfsf] pRr Joj:yfksLo txdf /x]sf s'g} sd{rf/L kl/jt{g ePdf ;f] ;DaGwL ljj/0f pNn]v
ug'{ kg]{ M ;f] gePsf] .
3_ sd{rf/L ;+Vof M :yfoL, c:yfoL, s/f/, Hofnfbf/L / cGo .
:yfoL c:yfoL s/f/ Hofnfbf/L cGo s'n sd{rf/L ;+Vof

— $) – – — $) hgf
!_ k|f]h]S6 Dofg]h/sf] lgo'lQm k|f]h]S6 ;DkGg ug]{ k|of]hgsf nflu dfq s/f/df lgo'Qm ul/Psf] .
@_ skf]{/]6 sfof{nodf xfn;Dd :yfoL k|s[ltsf] sd{rf/L lgo'lQmsf] cfjZostf gb]lvPsf]n] s/f/df g} lgo'lQm
ul/Psf] . efjL lbgdf cfjZos ePdf :yfoL sd{rf/Lsf] lgo'lQm ul/g]5 .
u=&=v=;~rfns Pj+ pRr Joj:yfksLo txsf clws[tnfO{ lbPsf] eQf tyf kfl/>lds ;DaGwL ljj/0f M
s_ ;+rfns ;ldltsf] cWoIf nufot cGo ;b:ox?nfO{ k|bfg ul/g] jf ul/Psf] a}7s eQfsf] b/ tyf
lghx?nfO{ k|bfg ul/g] jf ul/Psf] b}lgs tyf e|d0f eQf / cGo ;'ljwf M
!= ;~rfns ;ldltsf] a}7sdf pkl:yt eP afkt cWoIfn] kfpg] k|lt a}7s eQf ?=!),)))÷— / cGo
;~rfnsn] kfpg] k|lt a}7s eQf ?=*,)))÷— x'g]5 .
@= sDkgLsf] sfdsf] l;nl;nfdf ;~rfnsnfO{ k|bfg ul/g] b}lgs tyf e|d0feQf b]xfo adf]lhd x'g]5M
:jb]zdf b}lgs eQf M ? %,))) ÷—
ef/tdf b}lgs eQf Mcd]/LsL 8n/df @)) ÷—
ef/t jfx]ssf cGo ljb]zL d'n'sdf b}lgs eQfMcd]/LsL 8n/df @%) ÷—
oftfoftvr{ ljn jdf]lhd 5 .
#= Knf6 OGrfh{sf] dfl;s kfl/>lds Pjd\ eQf ?=*),)))÷—
$= cGo ;'ljwf sDkgL lgod adf]lhd x'g]5 .
pk/f]Qm a}7s eQf afx]s cGo s'g} eQf tyf ;'ljwf ;~rfnsx?nfO{ e'QmfgL ug]{ Aoa:yfePsf] .
;+rfns Dfl;s kfl/>lds oftfoft vr{ 6]lnkmf]g vr{ kqklqsf tyf hDdf
:6]zg/L
;+rfns cWoIf glng] lg0f{o ePsf] !),))) %,))) #,))) !*,)))
sfo{sf/L ;+rfns #,)),))) @),))) !%,))) !%,))) #,%),)))
;b:ox? *,))) #,))) @,))) !#,)))
v_ ;+ul7t ;+:yfsf] pRr Joj:yfksLo txsf tLg hgf clws[tx?sf] gfd, kb / Ps cfly{s jif{sf] cjlw
leq pgLx?nfO{ kfl/>ldssf] ?kdf e'Qmfg ul/Psf] /sd M
cfly{s jif{ )&^÷&& df kfl/>ldssf]
l;=g+= ?kdf e'Qmfg ul/Psf] /sd -?=_ - eQmf
sd{rf/Lsf] gfd Kfb
;dfj]z ul/Psf] 5}g _
!= u0f]z sfsL{ sfo{sf/L lgb]{zs 45,50,000.00
@= /d]z clwsf/L sDkgL ;lra 13,00,000.00
#= dgx/L ;fksf]6f cfof]hgf Joj:yfks 26,00,000.00
u_s'g} clws[t jf ;+rfnsnfO{ eljiosf] nflu s'g} /sd k|bfg ul/g] u/L s/f/ ul/Psf] eP ;f] ;DaGwL
ljj/0f M xfn;Dd To:tf] s'g} s/f/ ul/Psf] 5}g .
u=*= cGtlg{lxt hf]lvd tyf ;f] sf] Joj:yfkgsf] nfuL Joj:yfkgsf] wf/0ff M
;+ul7t ;+:yfn] axg u/]sf] jf ug]{ hf]lvd :ki6 ?kdf pNn]v ug'{ kg]{ . o; ;Gbe{df hf]vLdx?nfO{ ;+ul7t
;+:yfsf] cfGtl/s jf Joj;fo÷kl/of]hgf;Fu k|ToIf cyjf ;+ul7t ;+:yfsf] lgoGq0f eGbf aflx/sf] egL
jlu{s/0f u/L k|d'v ?kdf b]xfosf] hf]lvdsf] ljZn]if0f ug'{ kg]{ .
19
s_ ljQLo ;fwgsf] cefjaf6 x'g] hf]lvd M
 lgdf{0f ;DkGg eO{ Jofkf/Ls pTkfbg ug]{ cj:yfdf /x]sf] hnljB't cfof]hgfdf ljQLo hf]lvd Go"g
/x]sf] .
 gofF cfof]hgfsf] cg';Gwfg tyf ljsf; ;+s'rg cfpg ;Sg] hf]lvd Go"g /x]sf] . t/ g]kfn ljB't
k|flws/0fn] ljB't vl/b ljqmL ;Ddmf}tf ;xh / ;/n gagfPdf ;d:of pTkGg x'g] b]vLG5 .
 ;+:yfdf cfj4 z]o/wgLx?n] sa'n u/]sf] ;Dk"0f{ /sd k|fKt eO;s]sf] / a}+saf6 klg C0f k|fKt
eO/x]sf]]n] ljQLo ;fwgsf] cefjaf6 x'g] s'g} klg hf]lvd gx'g] .
v_ sRrf kbfy{sf] cefjaf6 x'g] hf]lvd M

 hn;|f]tsf] lg/Gt/ dfkg ul/ l8hfO{g ul/Psf] x'Fbf pQm hf]lvd sd /x]sf] .
u_ pTkfbg tyf ;]jfsf] ahf/ l:ylt / o;df cfpg] kl/jt{gaf6 x'g] hf]lvd M xfnsf] cj:yfdf ljB'tsf]
ahf/sf] hf]lvd g/x]sf] .
3_ cfof]hgf ;DkGg x'g l9nfO{ x'g] ;Defjgf / To;af6 x'g] d"No clej[l4 (Cost overrun)sf] hf]lvd Mo;
sDkgLn] @)&& ;fn kf}ifsf] klxnf] xKtf ;Dddf ljB't pTkfbg ug]{ nIo /fv]sf] 5 . sDkgLsf] tkm{af6 ;f]
ldltdf ljB't pTkfbg u/L g]kfn ljB't k|flws/0fnfO{ ljB't laqmL ug]{5 . ;fy}, sDkgLsf] lgdf{0f sfo{ nueu
;DkGg e};s]sf] x'Fbf d"No clej[l4 (Cost overrun)sf] hf]lvd g/x]sf] b]lvG5 .
ª_ ljb]zL ljlgdosf] hf]lvd Mo; sDkgLn] cfoft u/]sf] d]l;g/L cf}hf/sf] d"Nosf] bz k|ltzt /sd cd]l/sL
8n/df %,^%,))) l/6]G;g rfOgfdf k7fpg'kg]{ x'Fbf ;f] /sdsf] b/df !!# sfod u/L lx;fj /flvPsf] x'bf
;f] /sddf 7'nf] cGt/ x'g] ;Ddmfjgf b]vLb}g / ljb]zL ljlgdosf] hf]lvd Go'g /xg] b]lvG5 .
r_ sfg'gL k|s[ofx? tyf O{hfht k|fKt ug'{ kg]{ ;f] af6 kg{ ;Sg] cj/f]wx? M cg'dlt jf Ohfht k|fKt ubf{
l9nfO{ x'g uPdf gofF cfof]hgf lgdf{0f sfo{df l9nfO{ x'g ;Sg] hf]lvd /x]sf] .
5_ If]qLos/0f / ljZjJofkLs/0f (Globalization) sf sf/0faf6 pTkGg x'g ;Sg] hf]lvd M cGt/f{li6«o ahf/df
x'g] cfly{s dGbLaf6 z]o/ ahf/df c;/ k/]df z]o/ d"Nodf c;/ kg{ ;Sg] hf]lvd /x]sf] .
h_ ;/sf/L gLlt tyf lgodx?df x'g] kl/jt{g tyf ljZjJofkL ?kdfx'g] gLltut kl/jt{gaf6 x'g] hf]lvd M
 g]kfn ;/sf/sf] hnljB't ;DaGwL cfly{s tyf ljQLo gLlt lgoddf x'g] kl/jt{gaf6 hf]lvdx? >[hgf
x'g ;Sg] .
 s/, eG;f/ cflb ;DaGwL Joj:yfdf kl/j{tg ePdf hf]lvdx? >[hgf x'g ;Sg] .
em_ ;+rfng Oltxf;sf] cefj Mcfof]hgf ;~rfngdf gcfpGh]n ;Dd ;f] ljifodf hf]lvd /x]sf].
`_ k|ljlwsf] kl/jt{gaf6 x'g] ;Sg] hf]lvd MhnljB'tcfof]hgf lgdf{0fsf]nfuL cfjZos 6jf{Og, k]g:6s, h]g]/]6/
nufotsf ljleGg pks/0fdf cfpg] kl/jt{g tyf gofF k|ljlwaf6 ljB't pks/0fx? km]hcfp6 ePdf
6_ cGo M
 b}lj k|sf]k tyf sfa' aflx/sf] kl/l:ylt pTkGg eO cfof]hgfdf s'g} k|fs[lts Iflt ePdf cfof]hgfsf]
nfut a9\g ;Sg] hf]lvd /x]sf] .
 b]zsf] /fhg}lts cl:y/tfaf6 cfpg ;Sg] hf]lvdx? .
 k"FhL ahf/sf] cj:yfdf cfpg] ptf/ r9fjaf6 kg{ ;Sg] hf]lvdx? .
;Defljt cfly{s hf]lvdx?nfO{ Go"gLs/0f ug{ Joj:yfkgn] lgDg pkfox? cjnDjg ub}{ hfg]5 .
g]kfndf phf{ zlQmsf] dfu w]/} / cfk"lt{ Go"g /x]sf] / g]kfn hn>f]tsf] wgL b]z ePsf]n] cGo phf{sf] >f]teGbf
e/kbf]{ >f]t kfgL xf] . t;y{ phf{sf nflu hnljB'tsf] cfjZostf / dxTj slxNo} sd gx'g] x'Fbf hnljB'tsf]
nufgLdf Go"g hf]lvd /xsf] Joj:yfkgsf] wf/0ff /x]sf] 5 . ;fy} phf{ ljleGg >f]taf6 k|fKt ug{ ;lsG5 .
20
h:t} M ;f}o{ zlQm, l8h]n, sf]Onf, hn>f]t OTofbL . o; dWo] kfgLaf6 pTkfbg x'g] hnljB't gljs/0fLo phf{
ePsf]n] hnljB't cfof]hgfx?n] jftfj/0fdf gsf/fTds k|efj kfb}{g . To;sf/0f phf{sf cGo >f]tx? eGbf
kfgLaf6 pTkfbg x'g] hnljB'tn] jftfj/0fLo xfgL gx'g] / o;sf] nfut cGo phf{ eGbf t'ngfTds ?kdf sd
/xg] x'Fbf cGo >f]taf6 pTkfbg x'g] ljB'teGbf kfgLaf6 pTkfbg x'g] hnljB't cfof]hgfx?df hf]lvd g/x]sf]
wf/0ff Joj:yfkgsf] /x]sf] 5 . ;fy} pk/f]Qm ;Defljt hf]lvdx?nfO{ Go"gLs/0f ug{ pks/0fx?sf] x|f; vr{sf]
Joj:yfsf] ;fy} s]Gb| / cfof]hgfsf cfjZoso; sDkgL tyf cfof]hgfsf] cfjZos ;+/rgf, d]l;g, cf}hf/ /
pks/0fx?sf] hf]lvdnfO{ Go"gLs/0f ug{ lgdf{0fflwg cfof]hgfsf] lgDgfg';f/sf ladf ul/Psf] 5 .
@%d]=jf= l;+u6L vf]nf hnljB't cfof]hgfsf] ladf ;DaGwL ljj/0f M

l;=g+= ladfsf] k|sf/ ladf ladfÍ /sd-?=_ ladf cjlw ladf z'Ns-?=_
sDkgLsf] gfd
!= Civil works Pg =Pn =hL 40,75,000,000.00 cS6f]a/ !$,@)@) b]lv 92,09,520.00
(Surface), Civil works OG:of]/]G; s+=ln= cS6f]a/ !#,@)@! ;Dd
(Underground),
Hydromechanical
works ,
Electromechanical
works, Transmission
line & Substation,
Camp, Access Road,
other Equipment
lwtf]kq d"No kl/jt{g ;DaGwL hf]lvd M

?=!))÷—k|lt z]o/sf b/n] lgisfzg ul/Psf] z]o/ d"Non] ;"rLs/0f kZrft\\ g]kfn :6s PS;r]Gh lnld6]8df x'g]
sf/f]jf/ d"No ghgfpg] ePsf]n] z]o/ d"Nodf x'g ;Sg] kl/jt{gsf] hf]lvd /x]sf] 5 .
u=(= ljQLo ljj/0f
u=(=s= ljQLo ljj/0f / tT;DaGwdf Joj:yfkgsf] wf/0ff / ljZn]if0fM
s_ ;+ul7t ;+:yfsf] n]vfk/LIf0f ePsf] kl5Nnf] cfly{s jif{sf] jf;nft, gfkmf-gf]S;fg lx;fa, gfkmf-gf]S;fg lx;fa
afF8kmfF8, gub k|jfx ljj/0f M o; sDkgLsf] cf=a=@)&%÷)&^ sf] n]vfkl/If0f ePsf] jf;nft, gfkmf—gf]S;fg lx;fa
tyf gfkmf—gf]S;fg afF8kmfF8 lx;fa vftfsf] oyfy{ ¿k/]vf o; k|sf/ 5 M
jf;nft
cf=j= @)&%÷)&^
laj/0f cf=a= @)&%÷)&^ -?= xhf/df_

k"FhL tyf bfloTj
z]o/xf]N8/x?sf]]ifsf
z]o/ k"FhL 1,015,000
hu]8f sf]if / ;+lrt gfkmf÷gf]S;fg -
s"n k"FhL 1,015,000
lb3{sflng bfloTj
lb3{sflngshf{ 3,008,662
;'/lIft cjlws shf{( Bridge Gap Loan) 296,315
s"n shf{ 3,304,976
hDdf k"FhL tyf bfloTj 4,319,976
;DklQ
lb3{sflng ;DklQ
l:y/ ;DklQ
s'n l:y/ ;DklQ 67,882
Go'g;+lrt x|f; -24,185_
v'b l:y/ ;DklQ 43,696
21
lgdf{0fflwg kl/of]hgf 4,397,099
hDdf lb3{sflng ;DklQ 4,440,795
nufgL -
Rffn' ;Dklt
clu|d e"QmfgL k]lZs tyf w/f}6L 87,995
gub tyf a}+s df}Hbft 5,442
hDdf rfn" ;DklQ 93,437
Go'gM rfn" bfloTj tyf Joj:yf
cf;fdLx? Tfyf Joj;flos bfloTj 212,385
cGo bfloTj >f]tdf s/s§L 1,871
hDdf rfn" bfloTj 214,256
v"b rfn' ;DklQ (120,819)
hDdf ;DklQ 4,319,976
Gff]6 M kl/of]hgf lgdf{0fwLg cj:yfdf /x]sf]n] kl/of]hgfsf] ;Dk"0f{ nfutnfO{ k'FhLs[t ul/Psf]n] gfkmf÷-gf]S;fg_ lx;fa ->fj0f
!,@)&% b]lv cfiff9 #!, @)&^_ g/x]sf] .
gub k|jfx ljj/0f ->fj0f !,@)&% b]lv cfiff9 #@, @)&^_

laj/0f cf=a= @)&%÷)&^ -?= xhf/df_
v'b gub k|jfx ;~rfng ultljlwaf6
rfn' jif{sf] Vf'b gfkmf ÷gf]S;fg -
;dfof]hg
x|f;s§L -
gub k|jfx ;~rfng ultljlwaf6 -
cl3Nnf] jif{sf] ;dfof]hg -
ltg{'kg{] /sd ckn]vg -
sfo{lzn k"FhLsf] kl/jt{g cl3sf] ;+rfng gub k|jfx
126,413
rfn" bfloTjdf ePsf]j[l4÷-sdL_ 89,655
;~rfng ultljlwaf6 s"n gub k|jfx 216,068
nufgL ultljlwsf] gub k|jfx
;DklQ vl/b, Knf06 d]lzg/L (24,816)
Kl/of]hgf vr{ (2,026,990)
;dfof]hgM x|f;s§L 7,874
nufgL ultljlwsf] gub k|jfx (2,043,933)
ljQLo ultljlwsf] gub k|jfx
z]o/ kF"hLdf j[l4-sdL_ 232,753
C0fdf j[l4-sdL_ 1,598,079
ljQLo ultljlwsf] gub k|jfx 1,830,832
Gfubdf ePsf] s"n kl/jt{g 2,967
ut jif{sf] a}+s tyf Gfub cj:yf 2,475
Rffn' jif{sf] a}+s tyf Gfub cj:yf 5,443
22
Gff]6 M n]vf kl/Ifsn] cfkm\gf] k|ltj]bgdf lbPsf] /fo sf] ;Gbe{df o; sDkgLn] tf]sLPsf] g]kfn n]vfdfg
NAS adf]lhd n]vf /flv ;f]xL adf]lhd ljQLo ljj/0fx? tof/ u/]sf] / kl5 g]kfn ljQLo k|ltj]bgdfg
NFRS adf]lhd ug{ egL tf]sLPsf] / ;f] adf]lhd ;'rf? eO{ g;s]sf] x'bf cfufld cfly{s jif{b]lv NFRS
jdf]lhd ljlQo k|ltj]bg tof/ ul/g]5 .
v_ ;~rfng cjlw tLg jif{ JotLt e};s]sf] cj:yfdf ljut tLg jif{sf] / tLg jif{ JotLt e}g;s]sf]
cj:yfdf ;+rfng cjlwe/sf] n]vfk/LIf0f ePsf] ljQLo ljj/0f M
jf;nft
jf:tljs -?= xhf/df_
ljj/0f cf=a= @)&#÷)&$ cf=a=@)&$÷)&% cf=a= @)&%÷)&^
k"FhL tyf bfloTj
z]o/ k"FhL 6,70,502 782,247 1,015,000
hu]8f sf]if / ;+lrt gfkmf÷gf]S;fg - - -
s"n k"FhL 6,70,502 782,247 1,015,000
lb3{sflng bfloTj
lb3{sflngshf{-a}+saf6 shf{_ 7,35,652.08 1,706,897 3,304,977
hDdf k"FhL tyf bfloTj 1,406,154 2,489,144 4,319,977
s"n shf{ 7,35,652.08 1,706,897 3,304,977
;DklQ
lb3{sflng ;DklQ
l:y/ ;DklQ 17,729 26,753 43,696
v'b l:y/ ;DklQ
lgdf{0fflwg kl/of]hgf 1,064,531 2,370,109 4,397,099
nufgL - - --
Rffn' ;Dklt
gub tyf a}+s df}Hbft 8,635 2,475 5,443
k|fKt x'g aFfsL -g]kfn ljB't
k|flws/0f_
cGo rfn' ;DklQ 3,84,356 214,408 87,995
hDdf rfn" ;DklQ 392,991 216,883 93,437
hDdf rfn" bfloTj 69,097 124,601 214,256
v"b rfn' ;DklQ 323,894 92,282 -120,819_
hDdf ;DklQ 1,406,154 2,489,144 4,319,977
Gff]6 M kl/of]hgf lgdf{0fwLg cj:yfdf /x]sf] kl/of]hgfsf] ;Dk"0f{ nfutnfO{ k'FhLs[t ul/Psf]n] gfkmf ÷gf]S;fg
lx;fa ->fj0f !,@)&$ b]lv cfiff9 #!,@)&%_ g/x]sf] .
23
OSjL6Ldf ePsf] kl/j{tg ljj/0f
cf=a= @)&#÷)&$ -?=xHff/df_
ljj/0f
z]o/ k'FhL ;+lrt gfkmf ÷gf]S;fg hDdf
>fj0f !, @)&# ;fnsf] df}Hbft 4,06,045 – 4,06,045
n]vf gLltx?df kl/jt{g M –
cfly{s jif{sf] Gffkmf gf]S;fg –
Nffef+z –
hf/L z]o/ k'FhL 2,64,457 – 2,64,457
@)&$ cfiff9 d;fGtsf] clGtd df}Gbft 6,70,502 – 6,70,502
cf=a= @)&$÷)&% -?=xhf/df_
ljj/0f
>fj0f !, @)&$ ;fnsf] df}Hbft 6,70,502 – 6,70,502
Nffef+z –
hf/L z]o/ k'FhL 1,11,745 – 1,11,745
@)&% cfiff9 d;fGtsf] clGtd df}Gbft 7,82,247 – 7,82,247
cf=a= @)&%÷)&^ -?=xhf/df_
ljj/0f
>fj0f !, @)&% ;fnsf] df}Hbft 7,82,247 – 7,82,247
Nffef+z –
hf/L z]o/ k'FhL 2,32,753 – 232,753
@)&^ cfiff9 d;fGtsf] clGtd df}Gbft 10,15,000 – 10,15,000
ckl/is[t cf=a= @)&^÷)&&-?= xhf/df_
ljj/0f
>fj0f !, @)&^ ;fnsf] df}Hbft 10,15,000 - 10,15,000
n]vf gLltx?df kl/jt{g M -
cfly{s jif{sf] Gffkmf gf]S;fg -
Nffef+z -
hf/L z]o/ k'FhL -
@)&& cfiff9 d;fGtsf] clGtd df}Gbft 10,15,000 – 10,15,000
u_ cfly{s jif{ ;dfKt ePsf] ^ dlxgf kZrft\ ljj/0fkq :jLs[tLsf] nfuL k]z u/]df pQm cGtl/d cjlwsf]
nflu n]vfkl/Ifsaf6 k|dfl0ft u/]sf] ckl/is[t ljQLo ljj/0f M
ckl/is[t
-?= xhf/df_
ljj/0f
cf=j=@)&^÷)&&
k"FhL tyf bfloTj
z]o/ k"FhL 1,015,000
hu]8f sf]if / ;+lrt gfkmf÷gf]S;fg -
s"n k"FhL
lb3{sflng bfloTj
lb3{sflngshf{-a}+saf6 shf{_ 4,113,294
hDdf k"FhL tyf bfloTj 5,128,294
s"n shf{ 4,113,294
24
;DklQ
lb3{sflng ;DklQ
l:y/ ;DklQ 5,264,207
v'b l:y/ ;DklQ
lgdf{0fflwg kl/of]hgf --
nufgL
Rffn' ;Dklt
gub tyf a}+s df}Hbft 1,658
k|fKt x'g aFfsL -g]kfn ljB't k|flws/0f_
cGo rfn' ;DklQ 71,204
hDdf rfn" ;DklQ 72,862
hDdf rfn" bfloTj 208,775
v"b rfn' ;DklQ -135,913_
3_ cfDbfgL / vr{ lx;fjsf] s'g} zLif{sdf 7'nf] dfqfdf kl/jt{g ePdf To;sf] ljZn]if0ffTds sf/0fM ;f] gePsf]
.
ª_kl5Nnf] ljQLo ljj/0fsf] n]vfk/LIf0f eP kZrft\ ;+ul7t ;+:yfsf] sf/f]af/, gfkmf gf]S;fg, ;DklQsf] d'No
jf cfufdL !@ dlxgfsf] bfloTj e'QmfgLdf c;/ kg]{ u/L s'g} cj:yf l;h{gf ePsf] 5÷5}g ;f] ;DaGwdf
;+rfnsx?sf] wf/0ff M ;f] gePsf] .
r_ cfly{s jif{ ;dfKt ePkl5 ljj/0fkq k]z u/]df, cfly{s jif{ ;dfKt ePsf] ldltaf6 k]z ePsf] ldlt;Dddf
jf;nftsf] ldlt kl5sf] 36gfsf] af/]df 5'§} hfgsf/L ljj/0fkqdf ;dfj]z ug'{kg]{ M ;f] gePsf] .
5_ljut % jif{df ;DklQsf] k'g{d"NofÍg ul/Psf] 5÷5}g, olb ul/Psf] eP -c_ ;DklQsf] ljj/0f -cf_ ;DklQsf]
k'g{d"NofÍg cl3 / kl5sf] lstfaL d"No -O{_ k'g{d"NofÍsf] cf}lrTo M;f] gePsf].
h_ cfufdL tLg jif{sf] k|If]lkt jf;nft, gfkmf gf]S;fg lx;fasf ;fy} To;sf u0fgfsf] cfwf/x? M sDkgLsf]
cfufdL # cfly{s jif{sf] nflu k|If]lkt ljQLo l:ylt b]xfo adf]lhd /x]sf] 5M
jf;nft k|If]lkt -?= xhf/df_

laj/0f
cf=a= cf=a= cf=a= cf=a=
@)&&÷)&* @)&&÷)&( @)&(÷)*) @)*)÷)*!
k"FhL tyf bfloTj
z]o/xf]N8/x? sf]]ifsf
z]o/ k"FhL 1,450,000 1,450,000 1,450,000 1,450,000
;+lrt gfkmf÷gf]S;fg 116,381 249,200 411,818 607,335.88
hDdf 1,566,381 1,699,200 1,861,818 2,057,336
lb3{sflng bfloTj
lb3{sflngshf{-a}+saf6 3,830,693 3,793,236 3,493,581 3,193,925
shf{_
s"n shf{ 3,830,693 3,793,236 3,493,581 3,193,925
5,251,261
5,397,074 5,492,436 5,355,399
hDdf k"FhL tyf bfloTj
;DklQ tyf bfloTj

25
lb3{sflng ;DklQ
4,898,203
5,406,573
l:y/ ;DklQ 5,223,861 5,043,210
hDdf l:y/ ;DklQ - - -

-;DklQ tyf pks/0f_
lgdf{0fflwg kl/of]hgf - - -
hDdf lb3{sflng ;DklQ - - -
- - -
nufgL - - -
- - -
Rffn' ;DklQ - - -
380,884
gub tyf a}+s df}Hbft 295,586 370,166 372,999
94,041
k|fKt x'g aFfsL -g]kfn 86,309 88,827 91,524
ljB't k|flws/0f_
9,011
cGo rfn' ;DklQ 17,599 14,079 11,263
483,936
473,072
hDdf rfn' ;DklQ 399,494 475,786
Go'gM rfn' bfloTj tyf

Joj:yf
cGo bfloTj tyf k|fjwfg
130,878
hDdf rfn' bfloTj 408,993 204,496 163,597
353,058
312,189
v"b rfn' ;DklQ -9,499_ 268,575
5,397,074 5,355,399 5,251,261

gfkmf gf]S;fg lx;fa k|If]lkt -?= xhf/df_

cf=a= cf=a= cf=a=
@)&&÷)&* @)&*÷)&( cf=a= @)*)÷)*!
laj/0f @)&(÷)*)
cfDbfgLM
26
457,328=51 721,603=34 764,438.07
laB't lalqm cfDbfgL 742,962=17
cGo cfDbfgL - - - -
721,603=34
764,438.07
457,328=51 742,962=17
hDdf cfDbfgL
vr{
17,099=66 17,892.10
12,210=58 17,494=80
/f]oN6L vr{
k]gfN6L vr{ - - - -
36,810.13
k|f]h]S6 ;+rfng tyf k|zf;g 21,602=01 37,797=32 36,326=81
vr{
423,515=93 666,706=36 709,735.84
EBDIT 689,140=56
-180,368_
-98,226_ -182,712_
x|f; vr{ -180,651_
529,368.12
325,289.71 483,994.59 508,489.89
EBIT
-206,581.18_ -348,518.88_ -329,940.24_
ljQLo vr{ -342,619.41_
199,427.88
118,708=53 135,475=71 165,870=48
EBT
-2,328_ -2,656_ -3,910_
Aff]g; vr{ -3,252_
cfo s/ - - - -
:ylut s/ - - - -
132,819=33 195,517.53
116,380=91 162,618=12
s/ s§fkZrft\sf] gfkmf
116,380.91 411,818.35
249,200.24
NPAT Brought Forward -
Go"g M ljlgof]hg÷ ;dfof]hg
;dfof]hg - -
Nffef+z - - - -
607,335.88
116,380=91 249,200=24 411,818=35
v'b gfkmf÷gf]S;fg
27
k|If]lkt OSjL6Ldf ePsf] kl/j{tg ljj/0f
gub k|jfx ljj/0f -?= xhf/df_
cf=a=
cf=a= cf=a= cf=a= @)*)÷)*!
ljj/0f @)&&÷)&* @)&*÷)&( @)&(÷)*)
v'b gub k|jfx ;~rfng
ultljlwaf6
195,518
rfn' jif{sf] Vf'b gfkmf ÷gf]S;fg 116,381 132,819 162,618
;dfof]hg
x|f;s§L 98,226 182,712 180,651 180,368
ljQ nfut 206,581 348,519 342,619 329,940
sfo{lzn k"FhLsf] kl/jt{g cl3sf] 421,188 664,050 685,888 705,825

;~rfng ck|]zgaf6 gub k|jfx
ljlgdo nfe÷3f6f
;DklQ lg;u{af6 ePsf] 3f6f – – –
;DklQ lg;u{af6 ePsf] nfe – – –
sf/f]jf/ ;~rfngaf6 gub k|jfx 421,188 664,050 685,888 705,825
sfo{ut k"FhL ultljlwaf6 gub

k|jfx
-265_
-32,704_
rfn' ;DklQdf -sdL÷-j[l4_ 1,002 119
-32,719_
-204,496_ -40,899_
rfn' bfloTjdf -sdL÷-j[l4_ 200,218
cfos/ cl3 ;~rfng 588,702 460,556 645,108 672,841

ultljlwaf6 gub k|jfx
s/ - - -
672,841
;~rfng ultljlwaf6 gub k|jfx 588,702 460,556 645,108
nufgL ultljlwjf6 v'b gub

k|jfx
-vl/b_ laqmL -240,591_ - - -
nufgL ultljlwjf6 v'b gub -240,591_ -

- -
k|jfx
ljQLo ;|f]t ;DalGw sf/f]jf/af6

gub k|jfx
-
z]o/ kF"hLdf j[l4 435,000
– –
28
-282,602_ -37,457_ -299,655_
C0fdf j[l4-sdL_ -299,655_
nfef+z e'QmfgL – – - -
-206,581_ -348,519_ -342,619_

ljQLo nfut -329,940_
-629,596_
-385,976_ -642,275_
ljQLo ultljlwsf] gub k|jfx -54,183_
Gfubdf ePsf] s"n kl/jt{g

372,999
370,166
ut jif{sf] a}+s tyf Gfub cj:yf 1,658 295,586
7,885
Rffn' jif{sf] a}+s tyf Gfub 293,928 74,580
2,833
cj:yf
380,884
jif{sf] cGTosf] a}+s tyf gub 295,586
370,166 372,999
cj:yf
k|If]lktOSjL6Ldf ePsf] kl/j{tg ljj/0f
ljj/0f cf=a= @)&&÷)&* -?= xhf/df_

z]o/ k'FhL ;+lrt gfkmf hDdf
÷gf]S;fg
>fj0f !, @)&& ;fnsf] df}Hbft 14,50,000 – 1,450,000
n]vf gLltx?df kl/jt{g M
cfly{s jif{sf] Gffkmf gf]S;fg – 116,380.91
116,380.91
Nffef+z – – –
hf/L z]o/ k'FhL – – –
@)&* cfiff9 d;fGtsf] clGtd df}Gbft 14,50,000 116,380.91 1,566,380.91
ljj/0f cf=a= @)&*÷)&( -?= xhf/df_

÷gf]S;fg
>fj0f !, @)&* ;fnsf] df}Hbft 14,50,000 – 14,50,000
n]vf gLltx?df kl/jt{g M
cfly{s jif{sf] Gffkmf gf]S;fg – 249,200.24 249,200.24
Nffef+z – – –
@)&( cfiff9 d;fGtsf] clGtd df}Gbft 14,50,000 249,200.24 1,699,200.24
cf=a= @)&(÷)*) -?= xhf/df_

ljj/0f z]o/ k'FhL ;+lrt gfkmf hDdf
÷gf]S;fg
>fj0f !, @)&( ;fnsf] df}Hbft 14,50,000 – 14,50,000
29
cfly{s jif{sf] Gffkmf gf]S;fg – 411,818.35
411,818.35
Nffef+z - -
@)*) cfiff9 d;fGtsf] clGtd df}Gbft 14,50,000 411,818.35 1,861,818.35
cf=a= @)*)÷)*! -?= xhf/df_

ljj/0f
÷gf]S;fg
>fj0f !, @)*) ;fnsf] df}Hbft 14,50,000 – 14,50,000
cfly{s jif{sf] Gffkmf gf]S;fg – 607,336 607,336
Nffef+z - -
@)*! cfiff9 d;fGtsf] clGtd df}Gbft 14,50,000 607,336 2,057,336
ljQLo k|If]k0fsf cfwf/ tyf tl/sf M

cf=j cf=j cf=j cf=j
ljj/0f @)&&÷)&* @)&*÷)&( @)&(÷)*) @)*)÷)*!
!= s'n cfodf cf}ift j[l4b/ - 57.79% 2.96% 2.89%
@= s'n vr{df cf}ift j[l4b/ - 72.69% -1.43% -1.97%
#= ;+rfng vr{ tyf s'n cfDbfgL 7.39% 7.61% 7.24% 7.16%
cg'kft
$= v'b d'gfkmfdf cf}ift j[l4b/ - 14.12% 22.44% 20.23%
%= cfos/ Joj:yf -k|ltztdf_ - - - -
k|lt z]o/ cfDbfgL 8.03 9.16 11.22 13.48
cGo ;+rfng vr{sf j[l4b/ -x|f; - 73.83% -1.38% -2.34%
tyf Jofh vr{_
Return on Equity 8.03% 9.16% 11.22% 13.48%
Return on Assets 2.16% 2.42% 3.04% 3.72%
k|I]flkt ul/Psf] ljQLo ljj/0fx?sf] u0fgfsf] cfwf/x? b]xfo adf]lhd /x]sf] 5 .

sDkgLn] cf=a @)&&÷&*df ;j{;fwf/0fnfO{ 5'6\ofO{Psf] ? $#,%),)),))) a/fa/sf] z]o/ lgisfzg ul/g] of]hgf
/x]sf] 5 .
1. z]o/ lgisfzgaf6 k|fKt /sd lgdf0f{wLg cfof]hgfsf] nutdf pkof]u ug]{ k|If]k0f u/LPsf] 5 .
2. sDkgLåf/f lgdf0ff{wLg cfof]hgf k'0f{?kdfkf}z @)&& af6 lalqm ;'? x'g] of]hgf /x]sf] 5 .
3. cfof]hgfsf] nfut z'?sf] cj:yf x]l/ ^! s/f]8n] j[l¢ ul/ %=%) ca{ cg'dfg ul/Psf] 5 .
4. cfof]hgfsf] nfutdf ePsf] j[l¢ z]o/ lgisfzg tyf a}Fsaf6 lnOPsf] C0faf6 k"lt{ ul/g] 5 .
5. g]kfn ljB't k|flws/0f;Fu ePsf] Power Purchase Agreement (PPA) sf cfwf/df k|lt o'lg6 ljB't b/ ;'Vvf
ofddf ?= *=$) / jiff{ ofddf ?= $=*) sf cfwf/df / ;f] b/ !^ d]ufjf6 cfof]hgfnfO{ k|lt aif{ #Ü sf
b/n] % jif{;Dd j[l4 x'g] / ( d]ufjf6 cfof]hgfnfO{ k|lt jif{ #Ü sf b/n] * jif{;Dd j[l4 x'g] ul/ k|If]k0f
ul/Psf] 5 .
6. k|zf;lgs vr{ klxnf] jif{ & k|ltztn] tyf ;f] kZrft cfufdL ^ jif{ ;Dd x/]s jif{ # k|ltztsf b/n] j[l¢ x'g]
/ ;f] kZrft x/]s jif{ % k|ltztsf b/n] j[l¢x'g] cg'dfg ul/Psf] 5 ;fy} Jofkfl/s pTkfbg x'g] ;fnsf] klxnf]
#dlxgfsf] vr{ tyf Jofh vr{ cfof]hgfsf] vr{df kF"hLs/0f ul/Psf] 5 . of]hgfsf] ladf vr{ of]hgfsf] x|f;
s§L kl5sf] nfutsf] )=@ k|ltzt cg'dfg ul/Psf] 5 .
7. cfof]hgfsf] ;~rfng cjlw e/ s'n $&=@* s/f]8n] Electromechanical work sf] dd{t tyf ;Def/ vr{ x'g]
/ pQm vr{ k"FhLs/0f ul/g] 5 . pQm /sd k"FhLs/0f afx]s s'g} klg ;DklQ yk gx'g] k|If]k0f u/LPsf] 5 .
30
8. of]hgf;+u ;DalGwt ;Dkltsf] x|f; vr{ sDkgLsf] x|f;s§L lglt jdf]lhd Straight Line Method (SLM) cg';f/
cfof]hgfsf] ;~rfng cljlwsf] cfwf/df k|If]k0f ul/Psf] 5 .
9. ljB't P]g @)%) cg';f/ ljB't pTkfbg ug]{ sDkgLn] gfkmfsf] @ k|ltzt sd{rf/L af]g; afkt Joj:yf ug'{ kg]{
ePsfn] ;f]xL cg';f/ af]g; vr{sf] k|If]k0f ul/Psf] 5 .
10. sDkgL s/5'6 cjwLdf ePsfn] cfos/sf] Joj:yf ul/Psf] 5}g .
11. a}+s C0f cf=j @)&*÷&( af6 cfufdL !@ jif{ cf= j= @)*(÷ () leqa}Fsn] pknAw u/fPsf] C0f tlnsf
cg';f/ r'Qmf ug]{ k|If]k0f ul/Psf] 5 .
12. a}+s C0fsf] Jofh u0fgfsf nflu ( k|ltzt Jofhb/ lnO{Psf] 5 tyf a}+s C0f k|zf]wg z'Ns )=!% k|ltzt
lnO{Psf] 5 .
13. ljB't laqmLsf]dlxgf a/fa/sf] /sd kfpg'kg]{ lx;fadf b]vfOPsf] 5 .
14. /f]olN6 vr{ ljB't vl/b laqmL ;Demf}tfdf ePsf] k|fjwfgsf] cfwf/df k|If]k0f u/LPsf] 5 .
u=(=v=ljQLo cg'kft ;DaGwL ljj/0f M
s_ ;~rfng cjlw tLg jif{ JotLt e};s]sf] cj:yfdf ljut tLg aif{sf] / tLg jif{ JotLt e}g;s]sf]
cj:yfdf ;~rfng cjlwsf] tyf cfufdL tLg jif{sf] k|If]lkt k|lt z]o/ cfDbfgL (EPS) tyf k|lt z]o/
g]6jy{ M
sDkgLsf] g]6jy{ tyf k|lt z]o/ cfDbfgLdf ePsf] jf:tljs tyf k|If]lkt cf};t k|ltkmn b]xfo adf]lhd /x]sf] 5
M
jf:tljs ckl/is[t k|If]lkt
ljj/0f cf=j= cf=j= cf=j=
)&#÷)&$ )&$÷)&% )&%÷)&^ cf=j= cf=j= cf=j= cf=j=
@)&^÷)&& )&&÷)&* )&*÷)&( )&(÷)*)
k|lt z]o/ g]6jy -?=_ 100.00 100.00 100.00 100.00 !)*=)# !!&=!( !@*=$)
k|lt z]o/ cfDbfgL -?=_ - - - - *=)# (=!^ !!=@@
;+lrt gfkmf÷gf]S;fgL - - - -
-?=_ 116,380.91 249,200.24 411,818.35
ckl/is[t k|If]lkt
ljj/0f jf:tljs -?=xhf/df_
)&#÷)&$ )&$÷)&% )&%÷)&^ cf=j=@)&^÷)&& )&&÷)&* )&*÷)&( )&(÷)*)
1,450,000.0
Zf]o/ k'FhL 670,502.00 782,247.00 1,015,000.00 1,015,000.00 1,450,000.00 0 1,450,000.00
-
;+lrt gfkmf 116,380.91 249,200.24 411,818.35
÷gf]S;fg - - -
Go"gM vr{
v"b ;DklQ 1,566,380.91 1,699,200.24 1,861,818.35
g]6jy{ xhf/df 670,502.00 782,247.00 1,015,000.00 1,015,000.00
z]o/ ;+Vof 6,705.02 7,822.47 10,150.00 10,150.00 14,500.00 14,500.00 14,500.00

k|lt z]o/ 100.00 100.00 100.00
g]6jy{ 108.03 117.19 128.40
-?=_ 100.00
]g]y jy{df 7.43% 7.82% 8.73%

cf}ift k|ltkmn - - - -
k|lt z]o/ *=)# (=!^ !!=@@

cfDbfgL - - - -
31
sDkgLsf] ljQLo ljj/0f k|If]k0f ljut jif{sf] sf/f]af/sf] cfwf/df lgisfzgsDkgLn] tof/ u/]sf] xf] . pQm
ljQLo k|If]k0fsf] cfwf/x? tyf tl/sf k'g/fjnf]sg u/L l7s 5 elg l;=P; lh=P08 Pzf]lzo6\;sf rf6{8
Psfp066]06 >L rGb| z]v/ l3ld/]n] k|dfl0ft ug'{ ePsf] xf] .
v_ ljut # jif{sf] g]6jy{df ePsf] cf};t k|ltkmn : cfof]hgf lgdf{0fwLg cj:yfdf /x]sf] cfof]hgfsf] ;Dk"0f{
nfutnfO{ k'FhLs[t ul/g] /ul/Psf]n] lgisfzg k"j{sf] k|ltz]o/ cfDbfgL g/x]sf] .
u_ k|If]lkt # jif{sf] g]6jy{df ePsf] cf};t k|ltkmn M &=((% /x]sf] .
u=!)= lwtf]kqlgisfzg;DaGwL ljj/0f M
u=!)=s=lwtf]kq hf/L ug'{sf] p2]Zo M
sDkgLaf6 lgdf{0f ePsf] hnljB't cfof]hgfsf] lgdf{0f tyf ljsf;sf nflu a]}s;Fu ;Demf}tf eO{ lnPsf] C0f
r'Qmf ug{ / cfjZostf cg';f/ cGo cfof]hgf lgdf{0f ug{ k"FhL ;+sng o; lgisfzgsf] d'Vo p2]Zo xf] .
u=!)=v= lwtf]kq lgisfzgaf6 k|fKt k'FhLsf] pkof]u
s_ lgisfzgaf6 k|fKt x'g] s"n /sdnfO{ k|of]u ug]{ If]q ;DaGwL ljj/0f M
sDkgLsf]] hf/L k"FhL ?= !$,%,)),)),)))÷– - cIf/]lk ?=Ps ca{ k+}tnL; s/f]8 dfq_/x]sf] 5 . sDkgLn]
cfkm\gf] hf/L k"FhLsf] !) k|ltzt cyf{t\ ?=!$,%),)),)))÷– -cIf/]kL rf}w s/f]8 krf; nfv_a/fa/sf]
;fwf/0f z]o/ cfof]hgf k|efljt If]qsf afl;Gbfx?nfO{ lgisfzgug]{5 / afFsL @) k|ltzt cyf{t\
?=@(,)),)),)))÷– -cIf/]kL pgGtL; s/f]8 _ a/fa/sf] ;fwf/0f z]o/ ;j{;fwf/0fnfO{ lgisfzg ug]{5 . pQm
k"FhLsf]vr{sf] ljj/0f b]xfo adf]lhd x'g]5 .
qm=;+= /sd pkof]u ul/g] of]hgf

! ;j{;fwf/0fnfO{ z]o/ lgisfzg u/]kZrft k|fKt ?= $#,%),)),))) dWo]
#@,^@,%)) ?=#@,^@,%)) z]o/ lgisfzg ug{ nfUg] cg'dflgt vr{ ltg{ k|of]u ul/g]
.
@ cfof]hgf lgdf{0fdf sfo{ ug{ ljleGg a}+saf6 lnOPsf] Loan e'QmfgL ug{
$@,^),)),)))
k|of]u ul/g] .
# ltg'{kg]{ bfloTjx?dWo] l;len tyf 6g]n 7]s]bf/x?nfO{ ltg{ afFls /x]sf]
%&,#&,%))
/sd e'QmfgL ug{ k|of]u ul/g] .
hDdf $#,%),)),)))
C0fsf] e'QmfgL ;DaGwLcj:yf tklzn adf]lhd /x]sf] 5 .
C0f lnPsf] a}+s÷ljQLo z'?df k|fKt u/]sf] ltg{ afFsL /x]sf] C0f
C0f e'QmfgL ug'{kg]{ ;dofjwL
;+:yfsf] gfd C0f /sd /sd
l;len a}+s lnld6]8 k|To]s jif{ q}dfl;s ?kdf cf+lzs ;fFjf /
796,020,239.83 796,020,239.83 Jofh e'QmfgL ub}{ hfg] Joj:yf C0fkq
;Def}tfdf /x]sf] 5 .
;]Gr'/L sd{l;on a}+s lnld6]8 k|To]s jif{ q}dfl;s ?kdf cf+lzs ;fFjf /
hgtf a}+s g]kfn lnld6]8 508,117,036.54 508,117,036.54
k|To]s jif{ q}dfl;s ?kdf cf+lzs ;fFjf /
Jofh e'QmfgL ub}{ hfg] Joj:yf C0fkq
32
s'df/L a}+s lnld6]8 581,004,098.05 581,004,098.05
n'lDagL ljsf; a}+s lnld6]8 k|To]s jif{ q}dfl;s ?kdf cf+lzs ;fFjf /
;Demf}tfdf /x]sf] 5 .
dxfnIdL ljsf; a}+s lnld6]8 k|To]s jif{ q}dfl;s ?kdf cf+lzs ;fFjf /
k|e' a}+s lnld6]8 199,980,828.56 199,980,828.56
l;4fy{ a}+s lnld6]8 k|To]s jif{ q}dfl;s ?kdf cf+lzs ;fFjf /
d]uf a}+s lnld6]8 k|To]s jif{ q}dfl;s ?kdf cf+lzs ;fFjf /
Bridge Gap Loan - 373,186,707.70 373,186,707.70 () lbg leq ;fFjf / Jofh e'QmfgL ub}{ hfg]
l;len a}+s lnld6]8 Joj:yf /x]sf] 5 .
v_ ;fj{hlgs lgisfzg ul/g] lwtf]kq k"0f{ ?kdf laqmL gePdf ;fj{hlgs lgisfzgsf] nflu p2]Zo k|fKtL
ug{sf] nflu ckgfOg] j}slNks Joj:yf M
cGo hnljB't sDkgLn] z]o/ lgisfzgubf{ ljutdf dfueGbf a9L z]o/sf] nflu b/vf:t k/L z]o/ sf/f]af/
;d]t eO{ ;s]sf]5 . sy+sbflrt lgisfzg ul/g] z]o/ :yflgo jfl;Gbfx?n] k"0f{?kdf vl/b gu/]df afFls z]o/
;j{;fwf/0fx?sf] nfuL lgisfzg ul/g] z]o/df yk ul/g] 5 . ;j{;fwf/0fx?sf] nflu lgisfzg u/]sf] z]o/ s'g}
sf/0fjz k"0f{ ?kdf laqmL gePdf >L k|Tofe'tLstf{ k|e' SofkL6n ln=/ g]kfn aËnfb]z SofkK6n ln=, sdnfbL,
sf7df08f}+;Fu ldlt @)&&÷)*÷)$ df ?=$#%,))),)))÷—a/fa/sf] $,#%),))) lsQf z]o/ k|Tofe"lt
ul/Psf] .
u_ cfof]hgfsf] ;+rfng :yfg, cfof]hgf r/0fj4 ?ksf sfof{Gjog ul/g] eP k|To]s r/0fdf nfUg] vr{, s'g}
r/0f ;dfKt e};s]sf] eP ;f] ;DaGwL ljj/0fM
o; sDkgLaf6 bf]nvf lhNnfdf /x]sf lau' / sflnGrf]s ufpFkflnsf aLr eP/ jxg] l;+u6L vf]nfdf cfof]hgf
lgdf{0f sfo{ eO/x]sf]5 .
3_ cfof]hgf ;DkGg x'g], kl/If0f pTkfbg z'? x'g] / k"0f{ Jofj;flos pTkfbg z'? x'g] cg'dflgt
ldlt M
l;+u6L vf]nf hnljB't cfof]hgf lgdf{0f sfo{ eO{ /x]sf] hnljB''t cfof]hgf @% d]=jf=;DkGg x'g] ;Defljt
ldlt @)&& kf}if klxnf] xKtf /x]sf] 5 . h:df g]kfn ljB't k|flws/0fsf] ;a :6]zg lgdf{0fsf] sfo{n] Jofkfl/s
pTkfbgsf] ldltdf k|efj kfg]{5 .
33
ª_;+ul7t ;+:yfn] s'g} pks/0f vl/b u/]sf] jf ug{ nfu]sf] eP pQm pks/0fsf] d"No jf k|:tfljt d"No
;Knfo;{sf] gfd / ;Knfo;{;Fu ;Demf}tf ePsf] eP ;f] sf] d'Vo a'Fbfx? M
d'No jf k|:tfljt ;Knfo/;+usf] ;Demf}tfsf]

ljj/0f ;Knfo/sf] gfd
d'No d'Vo a'Fbf
- Contract Agreement
dated 14th day February of
2018 - Contractor
appointed for design,
manufacturing ,
cd]l/ls 8n/ x'gfgPnf]gjf8{ supply,erection,
installation, testing and
?=^!,%),))) xfO8«f] h]g]/]l6Ë commissioning and
O{SjLkd]G6 sDkgL handover of 25 ,000kW,
l;+u6L hnljB't ln=,rfOgf -Hunan
On]S6«f]d]sflgsn control turbines,
cfof]hgf @% d]=uf=
Allonward Hydro- generators, governors,
Generating transformers, fully
Equipment Co. Ltd, automated complete set of
China_ 2 nos.electro-mechanical
equipment as per SLD
finalized with NEA to be
installed at Singati Khola
Hydropower Project (2 X
12500kW).
r_ s'g} kf6L{;Fu k|ltlnlk clwsf/ 6«]8dfs{ Ohfhtkq /f]oN6L ;xsfo{ ;DaGwdf jf ljQLo jf k|fljlws ;Demf}tf ul/Psf]
eP ;f] sf] k|d'v zt{x? / kf6L{sf] gfd 7]ufgf ;DaGwL lj:t[t ljj/0f M;f] gePsf] .
5_ pTkfbg ;DaGwL cfof]hgf eP, ;f] sf] k|s[lt, k|of]ustf{, k|lt:kwf{, nlIft ;d"x, pTkfbg Ifdtf, ljutsf
jif{x?sf] Ifdtf pkef]u jf eljiodf ul/g] Ifdtf pkef]u ;DaGwL ljj/0f M
 sDkgLaf6 lgdf{0f sfo{ eO/x]sf]] hnljB't cfof]hgfsf] ljB't pTkfbg Ifdtf @% d]=jf=/x]sf] .
 cfof]hgfsf] k|s[lt M hnljB't cfof]hgf
 k|of]ustf{ M cfof]hgfaf6 pTkflbt ljB't
 zlQm g]kfn ljB't k|flws/0fsf] /fli6«o k|;f/0f nfOg dfkm{t ;j{;fwf/0fx?n] k|of]u ug]{ .
 k|lt:kwf{ M xfn k|lt:kwf{ g/x]sf] .
 nlIft ;d"x M g]kfn ljB't k|flws/0f .
 pTkfbg Ifdtf M sDkgLaf6 bf]nvf lhNnfsf] lau' / sflnGrf]s ufFpkflnsfdf lgdf{0f eO{ /x]sf]
hnljB't cfof]hgfsf] ljB't pTkfbg Ifdtf @% d]= jf=/x]sf] 5 .
h_ cfof]hgfsf] nflu cfjZos sRrf kbfy{sf] pknAwtf / To;sf] >f]t M bf]nvflhNnflau', sflnGrf]s
ufFpkflnsfdf jxg] l;+u6L vf]nfsf] kfgL .
em_ cfof]hgfsf] nflu cfjZos x'g] ljB't, kfgL, Uof;sf] dfqf / To;sf] >f]t M bf]nvf lhNnf lau' /
sflnGrf]s ufFpkflnsf aLrjxg] l;+u6L vf]nfsf] kfgL .
`_ ;fj{hlgs lgisfzgsf] nflu ul/g] vr{ k|d'v ?kdf b]xfodf pNn]lvt kIfx?nfO{ lbg] z'Nsx? 5'§f5'§}
?kdf k|:t't ug'{ kg]{ .
c_ lgisfzgtyf laqmL k|aGws— ?=@,%),)))÷—
cf_ 6«i6L -l8a]Gr/ lgisfzgsf] xsdf_— lgisfzg ul/g] l8a]Gr/ geO{ ;fwf/0f z]o/ ePsf] .
O{_k|Tofe"ltstf{ z'Ns — ?=$(,)),)))÷—-k|e' Soflk6nnfO{ e'Qmfg ul/Psf] _ / ?=@&,!@,%))÷— -
g]kfn aËnfb]z Soflk6nnfO{ e'Qmfg ul/Psf] _
O_ lj1x?sf] kfl/>lds jf ;]jf z'Ns — g/x]sf] .
34
p_ n]vfkl/Ifssf] z'Ns —k|If]lkt ljQLo ljj/0f k|dfl0ft u/] afkt ?=@%,)))÷— (Exclusive Vat)
e'QmfgL ul/Psf] .
pm_ cGo -h:t} ;+sng s]Gb|, lgisfzg a}+s cflb_— ;+sng s]Gb|nfO{ cfj]bg kmf/d;lxt /sd ;+sng
u/] jfkt ;+slnt /sddf )=)!Ü -z"Go bzdna Ps k|ltzt_ ;]jf z'Ns, afF8kmfF8df gk/]sf] z]o/
jfktsf] /sd cfj]bsx?nfO{ lkmtf{ e'QmfgL lb+bf lkmtf{ e'Qmfg ePsf] /sddf )=)!Ü -z"Go bzdna
kfFr k|ltzt_ ;]jf z'Ns / z]o/wgLx?nfO{ z]o/sf] k|df0fkq ljt/0f u/]jfkt k|lt k|df0fkq ?=@.–
;]jf z'Nssf] ?kdf lbg] Joj:yf ul/Psf] 5 .
u=!)=u=;fj{hlgs lgisf;gaf6 k|fKt /sdnfO{ kl/of]hgfdf k|of]u ug{ k"j{ cGo s'g} Joj:yf ug{ nfluPsf]
5 eg] tT;DaGwL ljj/0fM ;f] gePsf] .
u=!)=3=lk|ldoddf lwtf]kq hf/L ug]{ ePdf lk|ldod d"No lgwf{/0f ubf{ ckgfO{Psf] ljlw / cf}lrTo M z]o/sf]
d"Nodf lk|ldod yk ul/Psf] 5}g .
u=!)=ª= lwtf]kqsf] afF8kmfF8, lkmtf{ e'QmfgL tyf ;"rLs/0f ;DaGwL ljj/0fM

s_ cToflws dfu jf Go"g dfu ePsf] cj:yfdf afF8kmFf8sf] k|s[of M
o; ljj/0fkq dfkm{t hf/L ul/Psf] ;fwf/0f z]o/ ;+VofeGbf a9L ;+Vofdf ;fwf/0f z]o/ vl/bsf] nflu b/vf:t
k|fKt x'g cfPdf g]kfn lwtf]kq af]8{sf] k|rlnt ælwtf]kq lgisfzg tyf afF8kmfF8 lgb]{lzsf, @)&$Æ df ePsf]
Joj:yf cg';f/ ;fwf/0f z]o/x? afF8kmfF8 ul/g]5 / z]o/ afF8kmfF8 ;DaGwL ;"rgf /fli6«o :t/sf] b}lgs
klqsfdf k|sflzt ul/g]5 .
!=z]o/ afF8kmfF8 ubf{ ;j{k|yd ;a} cfj]bsnfO{ bz lsQfsf] b/n] afF8kmfF8 ul/g]5 .
@=a'Fbf -!_ adf]lhd afF8kmfF8 u/] kZrft\ afFsL /x]sf] lgisflzt z]o/ aL; jf ;f] eGbf a9L lsQf cfj]bg ug]{
cfj]bsx?nfO{ k'gM bz lsQfsf] b/n] afF8kmfF8 ul/g]5 .
#=a'Fbf -@_ adf]lhd z]o/ afF8kmfF8sf] k|s[of ;DkGg ePkZrft\\ lwtf]kq afFsL ePdf ;f]xL k|s[of ckgfO{
afF8kmfF8 ul/g]5 .
$=pk/f]Qmfg';f/ z]o/ afF8kmfF8 ubf{ !) lsQfsf b/n] ;a} cfj]bsx?nfO{ afF8kmfF8 ug{ ck'u x'g] cj:yfdf
Go"gtd !) lsQf kfpg] ul/ uf]nf k|yfaf6 cfj]bs 5gf}6 ul/ ul/g]5 .
% Þz]o/ afF8kmfF8 ;ˆ6j]o/ tyf afF8kmfF8 tflnsfsf ;DaGwdf af]8{sf] ;xdlt lnO{g]5 .
^=z]o/ afF8kmfF8sf] hfgsf/L afF8kmfF8 u/]sf] ef]nLkN6 ;Dddf af]8{, lwtf]kq ahf/ tyf ;j{;fwf/0fnfO{
hfgsf/L u/fO{g]5 . ;fy}, Go"g dfu ePsf] cj:yfdf dfu eP adf]lhdsf] z]o/ cfj]bsnfO{ afF8kmfF8 u/L
afF8kmfF8 x'g afFsL /x]sf] z]o/ ;+ul7t ;+:yf / k|Tofe"ltstf{x? aLr ePsf] k|Tofe"lt;DaGwL ;D´f}tfdf pNn]v
eP cg';f/ k|Tofe"ltstf{x?nfO{ bfdf;fxLn] afF8kmfF8 ul/g]5 .
v_ cToflws dfu ePsf] jf afF8kmfF8 gePsf] cj:yfdf lkmtf{ e'QmfgL ;DaGwL Joj:yfM z]o/ laqmL aGb
ePsf] ldltn] af]8{n] lgwf{l/t u/]sf] ;doleq z]o/ afF8kmfF8 u/L k"0f{ jf cf+lzs ?kdf :jLs[t/c:jLs[t ePsf]
Joxf]/f hgfOPsf] z]o/ afF8kmfF8 kq / /sd lkmtf{ e'QmfgL k"hf{ lbOg]5 .
u_ lgj]bg ;fy k|fKt /sdsf] lkmtf{ e'QmfgLdf l9nfO{ ePdf lbOg] Jofhb/ M
lwtf]kq lgisfzg tyf afF8kmfF8 lgb]{lzsf, @)&$ n] lgwf{l/t u/]sf] ;doleq z]o/sf] afF8kmfF8 kq tyf /sd
lkmtf{ e'QmfgL lbg g;lsPdf ælwtf]kq lgisfzg tyf afF8kmfF8 lgb]{lzsf, @)&$Æ sf] bkmf @( -#_ ePsf]
Joj:yf adf]lhd z]o/ laqmL aGb ePsf] ldltb]lv /sd lkmtf{ e'QmfgL lbg z'? u/]sf] cl3Nnf] lbg;Ddsf]
;/sf/L C0fkqsf] k|rlnt clGtd Jofhb/sf] cfwf/df x'g cfpg] Jofh ;lxt lx;fa u/L /sd lkmtf{ e'QmfgL
ul/g] Joj:yf /x]sf]df o; lgisf;gdf lwtf]kq vl/b -;fj{hlgs lgisfzg_ ;DaGwL lgb]{lzsf, @)&# -cf:jf_
n] u/]sf] Joj:yf adf]lhd cfj]bg dfu ug'{kg]{ ePsf]n] cfj]bss} a}+s vftfdf /sd /f]Ssf x'g] Joj:yf /x]sf]
5.
3_ lwtf]kqsf] afF8kmfF8 tyf k|df0fkq hf/L ;DaGwL k|s[of / ;dofjwL Mlgisfzgul/g] ;fwf/0f z]o/ k|rlnt
lwtf]kq lgisfzgtyf afF8kmfF8 lgb]{lzsf, @)&$ tyf k|rlnt z]o/ afF8kmfF8 ;DaGwL Joj:yf cg';f/ ;fwf/0f
z]o/sf] afF8kmfF8 u/L tf]lsPsf] ;dofjlw leq cfof]hgf k|efljt :yfgLo afl;Gbfx?nfO{ z]o/ k|df0f kq
ljt/0f ul/g]5 / ;j{;fwf/0fx?sf] nflu lgisfzg ul/g] ;fwf/0f z]o/ k|rlnt lwtf]kq lgisfzgtyf afF8kmfF8
lgb]{lzsf, @)&$ tyf k|rlnt z]o/ afF8kmfF8 ;DaGwL Joj:yf cg';f/ ;fwf/0f z]o/sf] afF8kmfF8 u/L ;"lrs/0f
eP kZrft\ lwtf]kq s]Gb|Lo lgIf]k ;]jf lgodfjnL, @)^& sf] lgod @$-&_ adf]lhd ;DalGwt z]o/wgLsf]
lxtu|fxL vftfdf cef}lts ¿kdf z]o/ hDdf ul/g]5 .
35
ª_ lwtf]kq ;"rLs/0f e};s]sf] eP To:tf] lwtf]kq ;"lrs/0f ul/Psf] lwtf]kq ahf/sf] gfd lwtf]kq sf/f]jf/
z'? x'gsf] nflu ;+ul7t :f+:yfn] k"/f ug'{kg]{ zt{x? ;DaGwL ljj/0f M ;f] gePsf] .
r_ lwtf]kq ;"rLs/0f e}g;s]sf] eP, ;+ul7t ;+:yfn] lgisfzg tyf laqmL ul/g] lwtf]kqx? k|rlnt P]g, lgod
cg';f/ ;xh v/Lb/laqmL jf ljlgdo x'g ;Sg] u/fpgsf] nflu ul/g] Joj:yf ;DaGwL ljj/0f Mlgisfzg ul/g]
;fwf/0f z]o/sf] afF8kmfF8kZrft\ lwtf]kq lgisfzg tyf afF8kmfF8 lgb]{lzsf, @)&$df ePsf] Joj:yf cg';f/
lgwf{l/t cjlwleq ;j{;fwf/0fnfO{ ;fj{hlgs lgisfzg ul/g] lwtf]kq tyf pBf]u k|efljt If]qsf afl;Gbfx?nfO{
lgisfzg ul/Psf] ;fwf/0f z]o/ ;"rLs/0f u/fO{ z]o/ vl/b/laqmLsf] Joj:yf ldnfOg] 5 .
u=!)=r= k|Tofe"lt ;DaGwL ljj/0f M
s_lwtf]kq k|Tofe"lt ug]{ ;+ul7t ;+:yfsf] gfd, 7]ufgf / k|Tofe"lt ug]{ lwtf]kqsf] ;+Vof / /sd M
o; ljj/0fkq dfkm{t lgisfzg ug{ nfluPsf] lwtf]kq dWo] !))% n] x'g cfpg]43,50,000lsQf ;fwf/0f
z]o/sf] nflu ?=43,50,00,000÷—-cIf/]kL lqrfln; s/f]8 krf; nfv?k}+of dfq_ k|Tofe"lt ;]jf k|bfg ug{
lgDg k|Tofe"ltst{fx?;Fu ;Demf}tf u/]sf] 5 .
k|Tofe"t ul/Psf] /sd
l;=g+= k|Tofe"ltstf{sf] gfd ,7]ufgf k|Tofe"t z]o/ lsQf
-g]=?=_
! >L k|e' SofkL6n ln=, sdnfbL,sf7df8f}+ 28,00,000 28,00,00,000
@ g]kfn aËnfb]z SofkL6n ln=,sdnfbL, sf7df8f}+ . 15,50,000 15,50,00,000
hDdf 43,50,000 43,50,00,000
v_lwtf]kq k|Tofe"ltstf{;Fu ul/Psf] ;Demf}tfsf] d'Vo – d'Vo aF"bfx? M
k|Tofe"ltstf{;Fu ePsf] ;Demf}tfsf a'Fbfx? M

!_ k|Tofe"ltstf{x?n] ;Demf}tf kqdf dGh'/ u/]sf] adf]lhd z]o/x?sf] nflu k|Tofe"lt ;]jf k|bfg u/]sf] 5 .
@_ k|Tofe"ltstf{nfO{ ?=!))÷— c+lst b/sf] ;Demf}tf kqdf dGh'/ u/]sf] adf]lhd z]o/x?sf a/fa/sf] ;fwf/0f
z]o/sf] k|Tofe"lt ;]jf k|bfg u/] afkt sDkgLn] s"n k|Tofe"t ul/Psf] /sdsf] !=&% k|ltztsf b/n] ;]jf
z'Ns k|bfg ug]{5 . z]o/ ljqmL geO{ k|Tofe'tLstf{n] vl/b ug'{ kg]{ ca:Yff ;[hgf ePdf vl/b u/LPsf] lsQf
a/fa/sf] /sddf @=@% k|ltzt k|Tofe'tL z'Ns yk ul/g]5 .
#_ olb z]o/ k"0f{ jf cf+lzs ?kdf laqmL geO{ lålto kIfn] k|Tofe"lt u/]sf] /sd e'QmfgL ug'{ kg]{ cj:yfdf
k|yd kIfn] /sd dfu u/]sf] & lbg leq z]o/ vl/b ul/ e'QmfgL lbg' kg]{5 .
$_ k|yd kIfsf] z]o/ ;j{;fwf/0fdf laqmL ubf{ ;Dk"0f{ z]o/sf nflu cfj]bg k|fKt ePdf k|Tofe"ltstf{sf] bfloTj
:jtM k"/f x'g]5 .
%_ k|Tofe"lt u/]sf] z]o/ laqmL geO{ u|x0f ug{' k/]df pQm z]o/x? u|x0f u/]kl5 ;j{;fwf/0f z]o/wgL ;/x
k|Tofe"ltstf{nfO{ ;d]t ;fwf/0f z]o/wgL ;/x z]o/ k|ltsf] xs clwsf/ k|fKtx'g]5 .
^_ z]o/ k|Tofe'tLsf] ;Ddmf}tfsf] ;do ;Demf}tf ePsf] ldltjf6 ! jif{ sfod /xg]5 .
&_ sy+sbflrt s'g} Ps kIfn] k'/f ug'{kg]{ cfly{s bfloTj k'/f gu/]df csf]{ kIfn] ;f] bfloTj k'/f u/fpg
k|rlnt P]g lgod tyf dWo:ytf P]g, @)%% adf]lhd sf/afxL ug{ ;Sg]5 .
u=!)=5= cfj]bg lb+bf Wofg lbg' kg]{ s'/fx? M
s_ lwtf]kqjfnfsf] clwsf/ tyf k|ltaGwfTds Joj:yfx? h:t} dtflwsf/, nfef+z, xsk|b z]o/,
lwtf]kqjfnfsf] clwsf/df kl/jt{g ug]{ k|s[of tyf lwtf]kqsf] vf/]hL cflb ;DaGwL ljj/0f M o; ljj/0fkq
cg';f/ lgisfzgul/g] ;fwf/0f z]o/sf] afF8kmfF8df k/]sf z]o/wgLx?sf] clwsf/ tyf k|ltaGwfTds Joj:yfx?
h:t} dtflwsf/, nfef+z, xsk|b z]o/, lwtf]kqjfnfsf] clwsf/df kl/jt{g ug]{ k|s[of tyf lwtf]kqsf] vf/]hL
cflb ;DaGwL Joj:yfx? k|rlnt sfg'g adf]lhd x'g]5 .
36
v_ lgodfjnL, k|aGwkq k|fKt ug]{ jf x]g{ ;Sg] 7fpF, e'QmfgL ug]{ tl/sf, lng'kg]{ Go"gtd lwtf]kq ;+Vof / ;f]
eGbf dfly lng] ePdf s'g u'0ffÍdf lng ;Sg] xf] ;f] ;DaGwL ljj/0f M
!=o; sDkgLsf] k|aGwkq tyf lgodfjnL sfof{no ;doleq sDkgLsf] /lhi68{ sfof{no, sf7df8f}+
dxfgu/kflnsf j8f g+ !, b/af/dfu{ jf lwtf]kq lgisfzgtyf laqmL k|aGws d]uf Soflk6n dfs]{6\; lnld6]8,
lqk'/]Zj/, sf7df08f}+df ;Dks{ /flv x]g{ jf k|fKt ug{ ;lsg]5 .
@=o; ljj/0fkq dfkm{t lgisfzgul/g] ;fwf/0f z]o/ vl/bsf nflu b/vf:t lbFbf b/vf:tjfnfn] b/vf:t;fy
cfkm'n] vl/b ug{ rfx]sf] ;fwf/0f z]o/ ;+Vofsf] k|lt ;fwf/0f z]o/ ?=!))÷—sf b/n] x'g cfpg] Psd'i6 /sd
o; lgisfzgsf] nflu tf]lsPsf] ;+sng s]Gb|x?df hDdf u/L ;f] sf] ;Ssn ef}r/ jf a}+s 8«fkm\6 ;+nUg u/L
b/vf:t lbg' kg]{5 .
#=o; ljj/0fkq dfkm{t lgisfzgul/g] ;fwf/0f z]o/sf] nflu b/vf:t lbFbf b/vf:tjfnfn] sDtLdf !)-bz_
lsQf ;fwf/0f z]o/sf] nflu b/vf:t lbg' kg]{5 . olb s'g} b/vf:tjfnfn] !) lsQfeGbf a9L z]o/sf] nflu
b/vf:t lbg rfx]df !) c+ssf] u'0ffÍdf clwstd @)),))) -b'O{ nfv_ lsQf ;fwf/0f z]o/ vl/b ug{sf
nflu b/vf:t lbg ;Sg]5 .
u_ cfj]bg lb+bf kfngf ug'{kg]{ zt{ aGb]hx? h:t} Ps eGbf a9L b/vf:t lbg gkfOg], nufgLstf{sf] klxrfgsf]
nflu gful/stf÷hGdbtf{sf] k|dfl0ft k|df0fkqsf] k|ltlnlk k]z ug'{kg]{ jf lwtf]kq bnfn Joj;foLn] lbPsf]
u|fxssf] kl/ro gDa/ / ;DalGwt Joj;foLsf] gfd v'nfpg'kg]{ / a}+s vftf dfkm{t sf/f]af/ ul/g'kg]{ h:tf
kIfx? M
bf]nvf lhNnfsf] lau' / sflnGrf]ssf] l;u+6L vf]nf hnljB't cfof]hgfsf clt k|efljt tyf k|efljt :yfgLo
afl;Gbfx?n] o; ljj/0fkq dfkm{t lgisfzg ul/g] ;fwf/0f z]o/ lgDg adf]lhd k|s[of k'/f ePsf] cj:yfdf
z]o/ vl/b ug{ cfj]bg lbg ;Sg]5g\ M
!= cfj]bsn] b/vf:t kmf/ddf tf]lsP adf]lhd ;Dk"0f{ ljj/0f e/L clgjfo{ ?kn] xfn;fn} lvr]sf]
kmf]6f] ;lxt cfkm}n] b:tvt u/L pBf]u clt k|efljt tyf k|efljt If]qsf afl;Gbf k|dfl0ft
ug]{ :yflgo lgsfoaf6 hf/L sfuhft ;lxt b/vf:t kmf/d a'emfpg' kg]{5 .
@= !^ jif{ pd]/ k'u]sf] xsdf cfj]bsn] cfkm\gf] gful/stf k|df0fkqsf] k|ltlnlk :jo+n] k|dfl0ft
u/L clgjfo{ ?kdf b/vf:t kmf/d a'emfpFbf k]z ug'{kg]{5 .
#= !^ aif{eGbf sd pd]/sf nflu cfdf÷afa'n] ;+/Ifs eO{ cfj]bg lbg' k/]df g]kfn ;/sf/sf]
kl~hsflwsf/Lsf] sfof{noaf6 k|fKt gfafnssf] hGdbtf{ k|df0f–kqsf] k|ltlnlk ;+/Ifsåf/f
clgjfo{ ?kdf k|dfl0ft u/L cfj]bg;fy k]z ug'{kg]{5 . ;fy} b/vf:t kmf/ddf ;+/Ifssf]
gful/stf k|df0fkqsf] k|ltlnlk ;d]t ;+/Ifs :jo+n] k|dfl0ft u/L ;+nUg ug'{ kg]{5 .
$= ljjfx e} cfPsf dlxnfsf xsdf ljjfx btf{ k|df0fkqsf] k|ltlnlk ;d]t ;+nUg u/]sf] x'g'
kg]{5 .
%= aF;fO{+;/fO{ ul/ cfPsf] xsdf cfJxfgkq k|sflzt x'g' eGbf cufj} aF;fO{ ;/fO{ u/L cfPsf]
k|df0fkqsf] k|ltlnkL ;d]t ;+nUg u/]sf]] x'g'kg]{5 .
^= dfly pNn]lvt x'g 5'6]sf ljt/0f k|lqmofdf ljjfb cfPdf ;DalGwt sfof{nosf] ;j{blno
;+oGqsf] lg0f{o jf lhNnf ljsf; ;ldltsf] ;j{blno ;+oGqsf] lg0f{o ;lxtsf] l;kmfl/; kq
k]z ug'{kg]{5 .
&= !^ aif{ pd]/ k'uL gful/stf lnPsf] t/ ljjfx u/L bf]nvf lhNnf 5f]l8 cGo lhNnf uPsf
dlxnf Pj+ lhNnf 5f]l8 a;fO{ ;/fO{ u/L uPsf JolQm / kl/jf/x?df pNn]lvt ;'/lIft z]o/
lng] clwsf/ /xg] 5}g .
*= cfdf afa' afx]s cGo JolQm ;+/Ifs e} gfafns jf ljlIfKt JolQmsf] gfddf b/vf:t lb+bf
sfg'g adf]lhd ;+/IfsTjsf] k|df0f k]z ug{'kg]{5 .
(= lwtf]kq vl/b ug{sf nfuL b/vf:t lbg rfxg]n] tf]lsPsf] ;+sng s]Gb|df z]o/ vl/bsf] nfuL
b/vf:t a'emfpg' kg]{5 .
!)= cfj]bg kmf/d a'emfpFbf b/vf:t kmf/ddf Go"gtd ?kdf v'Ng'kg]{ egL tf]lsPsf ljj/0fx?
;a} :ki6 ?kdf e/]sf] b/vf:t kmf/d a'emfpg' kg]{5 .
!!= Ps JolQmn] cfkm'n] lng rfx]sf] ;Dk"0f{ z]o/sf] nflu Psj6f dfq cfj]bg u/]sf] x'g' kg]{5 .
olb Ps} JolQmn] Ps eGbf a9L cfj]bg lbPsf] e]l6Pdf lghn] lbPsf] ;a} cfj]bgx?nfO{ /2
ul/g]5 .
!@= pBf]u clt k|efljt tyf If]qsf k|efljt afl;Gbfaf6 cfj]bg dfu ubf{ a;fO{;/fO{ jf cGo
sf/0fn] a;fO{ ;/]sfx?n] cfj]bg lbg kfpg] 5}gg\ .
!#= ;fwf/0f z]o/ vl/b ug{sf nflu b/vf:t lbg] JolQm :jo+n] b/vf:t kmf/ddf b:tvt u/L
tf]lsPsf] ;+sng s]Gb|x?df ;fwf/0f z]o/ vl/bsf nflu b/vf:t a'emfpg' kg]{5 . o;/L
37
b/vf:t kmf/ddf b:tvt gu/]sf] / tf]lsPsf ;+sng s]Gb|x? afx]s cGo :yfgx¿df b/vf:t
kmf/d a'emfPsf] b/vf:t kmf/dnfO{ /2 ul/g]5 .
!$= pBf]u clt k|efljt tyf k|efljt If]qsf afl;Gbfx?n] z]o/ vl/b u/]df ;j{;fwf/0fsf nflu
;fj{hlgs lgisfzg ul/g] ;fwf/0f z]o/sf] nflu k'gM cfj]bg lbg kfpg] 5}gg\ .
!%= ;Dk"0f{ b/vf:tjfnfx? -gfafnsx? ;d]t_ n] clgjfo{ ?kdf cfkm\gf] vftf /x]sf] a}+s jf
ljQLo ;+:yfsf] gfd, 7]ufgf / vftf gDa/ ;d]t :ki6 ?kdf b/vf:t kmf/ddf v'nfpg' kg]{5
. b/vf:tjfnfn] b/vf:t kmf/ddf cfkm\gf] vftf gDa/ pNn]v ubf{ Clearing Housesf] ;b:o
ePsf] a}+s jf ljQLo ;+:yfdf ePsf] vftf gDa/ pNn]v ug'{ kg]{5 .
!^= ?=% nfv ;Dd /sd a/fa/sf] cfj]bg ug]{ b/vf:tjfnfn] :j]lR5s ?kdf / ?=% nfv eGbf
a9L /sd a/fa/sf] cfj]bg ug]{ b/vf:tjfnfn] clgjfo{ ?kdf Kofg (PAN No.) gDa/ b/vf:t
kmf/ddf v'nfpg' kg]{5 .
!&= ?=%),)))÷–eGbf a9L nufgL ug]{ b/vf:tjfnfn] b/vf:t lb+bf clgjfo{ ?kdf PsfpG6k]oL
r]s dfkm{t /sd hDdf ug'{ kg]{5 .
!*= b/vf:tjfnfn] Psf3/ kl/jf/ afx]s Ps eGbf a9L b/vf:t kmf/d ;dfj]z u/L cfj]bg
lbPsf] cj:yfdf k|To]s b/vf:tjfnfn] cfkm\g} vftfsf] Psfp06 k]oL r]s a'emfpg'kg]{5 .
!(= lxtu|fxL vftf vf]nL ;s]sf] cfj]bssf] xsdf lxtu|fxL vftf g+= pNn]v ug'{kg]{5 .
@)= ;fy} g]kfn lwtf]kq af]8{af6 ldlt @)&%÷!)÷)& sf] lgb]{zg adf]lhd cfof]hgf k|efljt
If]qsf :yflgojf;Lx?n] P]lR5s ?kdf cf:jf k|0ffnLdfkm{t\ cfj]bg lbg ;Sg]5g\ .
@= ;j{;fwf/0fn] o; ljj/0fkq dfkm{t lgisfzg ul/g] ;fwf/0f z]o/ lgDg adf]lhd cfj]bg lbg ;Sg]5g\ M
!= lwtf]kq vl/b ug{sf nflu b:tvt lbg rfxg]n] g]kfn lwtf]kq af]8{af6 cg'dlt lnO{ lwtf]kqsf] ;fj{hlgs
lgisfzgsf] s]lGb|s[t ljB'lto ;]jf ;DaGwL sfo{ ;~rfng lgb]{lzsf, @)&$ adf]lhd ;fj{hlgs lgisfzgdf
Centralized Application for ASBA Based Issuance(C-ASBA) k|0ffnL dfkm{t\ cfa]bg ;+sng ug{ cfaå
cf:jf (ASBA) ;]jfdf ;xefuL a}s+ tyf ljQLo ;+:yf tyf tLgsf zfvf sfof{nox?af6 cfj]bg lbg ;Sg]5g\
.
@= (C-ASBA) ;]jfdf ;xefuL a}+s tyf ljQLo ;+:yfx?n] pk/f]Qm adf]lhd a'emLlnPsf] kmf/d tf]lsPsf]
;dojlw leq ( C-ASBA ) k|0ffnLdf k|ljli6 ug'{kg]{5 .
#= ;Ël7t ;+:yfn] k|f/lDes ;fj{hlgs lgisfzg dfkm{t hf/L u/]sf] z]o/ vl/bsf nflu k|fs[lts JolQmn] dfq
b/vf:t lbg ;Sg]5 . tf]lsPsf] cjlwleq laqmL gePdf ;+ul7t ;+:yf jf k|rlnt sfg'g ad]lhd :yfkgf
ePsf ;+:yfn] To:tf] z]o/ vl/b ug{ ;Sg]5g\ .
u= !!=;DalGwt kIf aLrsf] sf/f]af/ ;DaGwL ljj/0f M

lgisfzgstf{ ;+ul7t ;+:yf / lgDg lnlvt kIf aLr ljut @ jif{sf] cjlwdf s'g} k|sf/sf] j:t'ut sf/f]af/
ePsf] jf s'g} sf/f]af/ ug{ k|:tfj ul/Psf] eP sf/f]af/df ;+nUg JolQmx?sf] gfd, ltgLx?sf] ;+ul7t ;+:yf
;Fusf] ;DaGw, sf/f]af/sf] k|s[lt / /sd M
s_ ;+ul7t ;+:yfsf] sfo{sf/L clws[t jf ;+rfnssf] ?kdf /x]sf] JolQm M sf/f]af/ gePsf] .
v_ cfwf/e"t z]o/wgL M sf/f]af/ gePsf] .
u_ v08 -s_ / -v_ df pNn]lvt s'g} AolQmsf] Psf3/ kl/jf/ ;b:o M sf/f]af/ gePsf] .
3_ ;+ul7t ;+:yfsf] sfo{sf/L clws[t jf ;+rfns jf cfwf/e"t z]o/wgLn] #) k|ltzt jf ;f] eGbf
a9L dtflwsf/ x'g] u/L z]o/ :jfldTj u|x0f u/]sf] sDkgL jf ;+ul7t ;+:yf M ;f] gePsf] .
ª_ ;+ul7t ;+:yf jf To;sf] ;xfos sDkgLn] xfnsf] ;+rfns jf gLhsf] Psf3/sf] kl/jf/sf]
;b:osf nflu s'g} sf/f]af/ jf ;Demf}tf u/]sf] 5 eg] ;f] jf ljj/0fkq k|sfzg ug'{ eGbf # jif{
cufl8sf] cjlwdf ;+:yfsf] ;+rfns jf ;+rfnssf] Psf3/ kl/jf/sf] ;b:osf nflu s'g} sf/f]af/
jf ;Demf}tf u/]sf] eP ;f] s'/f M s'g} sf/f]af/ jf ;Demf}tf u/]sf] 5}g .
r_ s'g} ;+rfns jf ;+rfnssf] Psf3/ kl/jf/sf] ;b:onfO{ s'g} C0f lbPsf] jf lgh;Fu lnPsf] eP
pQm C0f ;DaGwL lj:t[t ljj/0f h:t} C0f afkt lnPsf] /sd, C0fsf] Aofhb/, C0f lnPsf]
ldlt, C0f e'QmfgL cjlw cflb s'/f ljj/0fkqdf v'nfpg' kg]{ M C0f sf/f]af/ u/]sf] 5}g .
38
u= !@= ljb]zL nufgL / Joj:yfkg ;DaGwL ljj/0f M
ljb]zL nufgL / Joj:yfkgdf ;+ul7t ;+:yf ;+rfng x'g] eP ;f] sf] ljj/0fsf ;fy} ;DalGwt ;Demf}tfsf] d'Vo
tyf tflTjs a'Fbfx? M sDkgLdf ljb]zL nufgL / ljb]zL Joj:yfkgdf g/x]sf] .
u= !#= ;"lrs[t ;+ul7t ;+:yfn] ;fj{hlgs lgisfzgug]{ ePdf ;f] sf] ljj/0f M
s_ ;+ul7t ;+:yfsf] ljut # cfly{s jif{sf] k|To]s q}dfl;s cjlwsf] pRrtd, Go"gtd, clGtd ahf/ d"Nosf
;fy} sf/f]af/ ePsf] z]o/ ;+VofM lgisfzgstf{ sDkgL ;"lrs[t ;+ul7t ;+:yf gePsf] .
v_ af]8{df ljj/0fkq btf{sf] nflu k|:t't ug'{ eGbf ^ dlxgf cufl8sf] cjlwsf] dfl;s ?kdf pRr, Go"g /
clGtd d"Nosf ;fy} k|To]s dlxgfdf sf/f]jf/ ePsf] s'n lbg / s'n sf/f]af/ ePsf] lwtf]kq ;+Vof M gePsf] .
u= !$=kl5Nnf] ;fj{hlgs lgisfzgsf] cg'dfg tyf pknAwL ;DaGwL ljj/0f M

;+ul7t ;+:yfn] o; eGbf cuf8L lwtf]kq lgisfzg ubf{ tof/ u/]sf] ljj/0fkq jf cGo ljj/0fx?df pNn]lvt
ul/Psf nIo tyf sfo{qmdx? tyf v'b d'gfkmf xfl;n ug{ ;s]÷g;s]sf], g;s]sf] cj:yfdf nIo tyf
sfo{qmdsf ;fy} ljj/0fkq jf cGo ljj/0fx?df k|If]lkt v'b d'gfkmf eGbf aL; k|ltzt jf ;f] eGbf a9Ln]
Go"g x'g uPsf] eP o;/L km/s kgf{sf] sf/0f M xfn;Dd s'g} ;fj{hlgs lgisfzg gul/Psf] .
u=!%= k/fdz{bftf÷ ljz]if1 ;DaGwL ljj/0fM

s_ n]vfkl/Ifs, k|d'v a}+s, lgisfzg sfo{;Fu ;+nUg a}+s, k|If]lkt ljQLo ljj/0f 7Ls 5 egL k|dfl0ft
ug]{ lj1 cflbsf] gfd tyf 7]ufgf M
c_ cf=j=@)&%÷&^ df o; sDkgLsf] n]vfkl/Ifsdf rf6{8{ PsfpG6]06 ;L P; hL P08 Pzf]lzo6\; sf
>L rGb| z]v/ l3ld/],sf7df08f} /xg'ePsf] 5 .
cf_ o; lgisfzgsf] nflu b]xfosf a}+snfO{ lgisfzg a}+s (Banker to the Issue)sf] ?kdf lgo'Qm ul/Psf]
5.
l;=g+= lgisfzg a}+ssf] gfd, 7]ufgf
! d]uf a}+s g]kfn lnld6]8, sdnfbL, sf7df8f} .
;fy} cfjZostf cg';f/ lgisfzg aGb ePsf] ldltn] # lbg leq af]8{nfO{ hfgsf/L lbO{ cGo
a}+sx?nfO{ ;d]t o; z]o/ lgisfzgsf] nflu lgisfzga}+ssf] ?kdf lgo'Qm ug{ ;lsg]5 .
O_ o; ljj/0fkqdf pNn]lvt ljQLo ljj/0f tyf k|If]k0fsf] cg'dfg tyf cfwf/x? xfnsf] hnljB't
ahf/sf] l:ylt, lgisfzgstf{ sDkgLsf] xfnsf] bIftf / lgisfzgstf{ sDkgLn] k|fKt u/]sf] xfn;Ddsf]
sfo{ k|ultsf] cfwf/df k'g/fjnf]sg u/L ljj/0f 7Ls 5 egL rf6{8{ PsfpG6]06 ;L P; hL P08
Pzf]lzo6\; sf >L rGb| z]v/ l3ld/],sf7df8f}af6 k|dfl0ft ePsf] 5.sDkgLsf] ljQLo ljj/0f k|If]k0f
ljut jif{sf] sf/f]jf/sf] cfwf/df lgisfzg sDkgLn] tof/ u/]sf] xf] .
z]o/ lgisfzg ;DaGwL Joj:yf tyf ljj/0fx? Joj;flos ;+:yf >L d]uf Soflk6n dfs]]{6\; lnld6]8,
lqk'/]Zj/, sf7df8f}+n] tof/ u/]sf] xf] . o; z]o/ lgisf;gsf nflu lgisfzg tyf laqmL k|aGwsdf
d]uf Soflk6n dfs{]6\; lnld6]8, lqk'/]Zj/, sf7df8f}}nfO{ lgo'Qm ul/Psf] 5 .
v_ dfly v08 -s_ df pNn]lvt ;+:yf jf JolQm;Fu ePsf] ;xdltsf d'Vo d'Vo a'Fbf tyf zt{x?M ;f]
gePsf] .
39
u= !^= kl/of]hgf ;DkGg ug{sf] nflu ;fj{hlgs lgisfzgafx]s cGo ljQLo >f]tx? k|of]u ul/Psf] 5÷5}g,
tT;DaGwL ljj/0f M
of] kl/of]hgf lgdf{0f ug{sf nflu ;+:yfks z]o/wgLx?sf] :jnufgL, / a}+s tyf ljQLo ;+:yfx?af6 C0f k|fKt
ul/cfof]hgfsf sfdx? ;+rfng e}/x]sf] 5 . sDkgLn] shf{ /sd e'QmfgL q}dfl;s ?kdf ug]{5 .
shf{sf] e'QmfgL ls:tf z'? tyf xfn
qm a}+s tyf clwstd :jLs[t z'?sf] shf{ /sd cjlw e'QmfgLsf] xfnsf] ;Dd afFsL shf{ /sd
= ljQLo shf{ ;Ldf tl/sf Jofh b/ e'Qmfg
;+ ;+:yfsf] gfd ul/Psf]
shf{
/sd
! l;len a}+s kl/of]hgf lgdf{0f q}dfl;s (=*^Ü –
lnld6]8 900,000,000.00 796,020,239.83 ;DkGg kZrft !@ 103,979,760.17
jif{ leq
@ ;]Gr'/L Kl/of]hgf lgdf{0f q}dfl;s (=*^Ü –
sd{l;on a}+s 658,000,000.00 593,176,060.60 ;DkGg kZrft !@ 64,823,939.40
lnld6]8 jif{ leq
$ Unf]an Kl/of]hgf lgdf{0f q}dfl;s (=*^Ü –
cfOPdO{ a}+s 559,904,000.00 508,117,036.54 ;DkGg kZrft !@ 51,786,963.46
lnld6]8 jif{ leq
% s'df/L a}+s Kl/of]hgf lgdf{0f q}dfl;s (=*^Ü –
lnld6]8 646,177,600.00 581,004,098.05 ;DkGg kZrft !@ 65,173,501.95
jif{ leq
^ n'lDagL Kl/of]hgf lgdf{0f q}dfl;s (=*^Ü –
ljsf; a}+s 100,000,000.00 100,000,000.00 ;DkGg kZrft !@ 0.00
lnld6]8 jif{ leq
& dxfnIdL Kl/of]hgf lgdf{0f q}dfl;s (=*^Ü –
ljsf; a}+s 100,000,000.00 100,000,000.00 ;DkGg kZrft !@ 0.00
lnld6]8 jif{ leq
* k|e' a}+s Kl/of]hgf lgdf{0f q}dfl;s (=*^Ü –
lnld6]8 200,000,000.00 199,980,828.56 ;DkGg kZrft !@ 19,171.44
jif{ leq
( l;4fy{ a}+s Kl/of]hgf lgdf{0f q}dfl;s (=*^Ü –
lnld6]8 255,952,000.00 255,484,657.75 ;DkGg kZrft !@ 467,342.25
jif{ leq
! d]uf a}+s Kl/of]hgf lgdf{0f q}dfl;s (=*^Ü –
) g]kfn 210,588,800.00 169,051,092.30 ;DkGg kZrft !@ 41,537,707.70
lnld6]8 jif{ leq
! k|:tfljt nf]g Kl/of]hgf lgdf{0f q}dfl;s (=*^Ü – 113,946,887.0
113,946,887.00
! ;DkGg kZrft !@ 0
jif{ leq
! Bridge 373,186,707.70 () lbg leq q}dfl;s !)=#^Ü – –
! Gap Loan-
l;len a}+s
lnld6]8 ;d]t
u=!&= d'2f tyf ljjfb ;DaGwL ljj/0f M

s_ ;+ul7t ;+:yfsf] t/ntf, df}Hbft, sfo{ ;+rfngdf tflTjs c;/ kg]{ vfnsf] s'g} d'2fdfldnf jf ljjfb
eP ;f] ;DaGwL ljj/0f tyf pk/f]Qm d'2f jf ljjfbsf] sf/0faf6 kg{ ;Sg] k|efj ;DaGwdf Joj:yfkgsf]
wf/0ff Mo; sDkgLsf lj?¢ sflnGrf]s /f]8 j]h g]kfn k|f=ln=n] sDkgLn] k|of]u u/]sf] sG;6{«S;g
;fdfu|Lsf] /f]oN6Lsf] ljifodf lhNnf cbfnt rl/sf]6df cfb]z hf/L u/L kfFp egL lgj]bg btf{ u/]sf]
/ pQm lgj]bg pk/ sf/jfxL x'Fbf lhNnf cbfntn] o; sDkgLsf] lj?¢df k/]sf] pQm d'2f vf/]h ug]{
lg0f{o u/]sf] x'Fbf s'g} bfloTj l;h{gf x'g ;Sg] ;Defjgf g/x]sf] Joxf]/f cg'/f]w5 .
v_ ;+ul7t ;+:yfnfO{ c;/ kg]{ u/L ;+:yfsf] ;+:yfks÷;~rfnsn] jf nfO{ bfo/ ul/Psf] d'2f ;DaGwL
ljj/0f M;f] gePsf] .
u_ ljut kfFr jif{df ;+ul7t ;+:yfsf] s'g} ;+:yfks÷;~rfns sfnf] ;"rLdf k/]sf] jf s'g} g}lts jf
cfly{s sf/0faf6 s'g} lgodg lgsfo jf cbfntn] ;hfo u/fPsf] eP, To:tf] ;+:yfks÷;+rfnssf]
gfd / ;hfo ug]{ lgodg lgsfo jf cbfntsf] gfd pNn]v ug'{kg]{ M ;f] gePsf] .
40
3_ ;+ul7t ;+:yf a}+s jf ljQLo ;+:yfdf C0f glt/L l8kmN6 ePsf], lgod cg';f/sf] z'Ns glt/]sf],
lwtf]kqjfnfx?sf] s'g} /sd e'QmfgL gul/Psf] eP tT;DaGwL ljj/0fx? M ;f] gePsf] .
u=!*=u'gf;f] ;'Gg] / ;dfwfg ug]{ k|s[of M
lgisflzt lwtf]kq ;DaGwL nufgLstf{x?sf] u'gf;f] tyf ;'emfj ;'Gg tyf ;f] sf] ;dfwfgsf nflu lwtf]kq
lgisfzg tyf laqmL k|aGwssf] sfof{nodf Ps ljz]if sIfsf] Joj:yf ul/Psf] 5 . nufgLstf{x?n] b]xfosf]
dfWod dfkm{t cfˆgf] u'gf;f] tyf ;'emfjx? ;dfwfgsf] nflu lwtf]kq lgisfzg tyf laqmL k|aGwssf]
sfof{nodf lutf kf]v|]nnfO{ kmf]g g+M )!–$@^@&() tyf O{d]n M info@megacapitalmarkets.com dfkm{t
;Dks{ ;lsg]5 .
u=!(= gub glnO{ s;}nfO{ lwtf]kq lgisfzgul/Psf] 5 eg] To:tf] JolQm jf ;d"xsf] gfd, v/Lb ul/Psf]
;DklQ jf ;]jf ;DaGwL ljj/0f, lgisfzgul/Psf] lwtf]kqsf] ;+Vof / b/ ;DaGwL ljj/0f M ;f] gePsf] .
u=@)=C0fkq lgisfzg;DaGwL ljj/0f M xfn;Dd sDkgLn] C0fkq hf/L ul/Psf] 5}g .
u=@!=cu|flwsf/ z]o/ lgisfzg;DaGwL ljj/0f M ;f] gePsf] .
u=@@=cGo ;fdfGo hfgsf/L M
s_ ljz]if1sf] s'g} /fo ePdf, ;f] sf] ljj/0f M k|If]lkt ljQLo ljj/0f l7s 5 elg rf6{8{ PsfpG6]06 ;L P;
hL P08 Pzf]lzo6\; sf >L rGb| z]v/ l3ld/], sf7df08f}n] k|dfl0ft ug'{ ePsf] xf] . jf:tljs ljQLo ljj/0fsf
cfwf/df ;+ul7t ;+:yfn] tof/ u/]sf] k|If]lkt ljQLo ljj/0f oyfy{k/s /x]sf] Joxf]/f k|dfl0ft u/L cfkm\gf] /fo
JoQm ug'{ePsf] 5 .
v_ ut tLg cfly{s jif{ leqdf s'g} ;+rfns, n]vfk/LIfs kl/jt{g ePsf] eP, ;f] sf] sf/0f M o; sDkgLsf]
;~rfns ;ldltdf ;ft hgf ;b:o /xg] Joj:yf /x]sf] / o; sDkgLdf ljut tLg jif{df ;~rfns cWoIf
>L /fh]Gb| bf; >]i7n] /flhgfdf u/L cnu x'g' ePsf] ;fy} l/Qm :yfgdf >L /hgL yfkf / a}bLs xfO8«f]
OGe]i6d]G6 sDkgL k|f=ln=sf] tkm{af6 k|ltlglw ;~rfnssf] ?kdf ;'?df >L bn axfb'/ lji6 /xg'ePsf] / kl5
lgh lji6sf] :yfgdf >L ;'bLk/fh uf}td xfn;Dd k|ltlglw ;~rfns sfod /xg'ePsf] 5 . ;fy} ;fljssf
afXo n]vf kl/Ifs >L lh P08 lh P;f]l;P6\;sf] ltg jif{sf] sfo{sfn ;dfKt ePsf] x'bf ut cfly{s jif{
@)&%÷&^ df >L l;=P;=lh= P08 P;f]l;P6\;sf n]vfkl/Ifs >L rGb| z]v/ l3ld/]nfO{ lgo'lQ ul/ xfn jxfn
/xg'ePsf]] 5 .
u_ sDkgL ;lrjsf] gfd, 7]ufgf / of]Uotf M

j8f g+=#,sf=d=g=kf=sf7df8f}+ lgjf;L jfl0fHo zf:qdf :gfts z}lIfs of]Uotf xfl;n ug'{ ePsf >L /d]z
clwsf/L o; sDkgLsf] sDkgL ;lrjsf] ?kdf sfo{/t x'g'x'G5 .
3_ ;fj{hlgs lgisfzgug{sf nflu ;~rfns ;ldltaf6 ePsf] lg0f{o ;DaGwL ljj/0f M

sDkgLsf] ldlt @)&$÷)&÷)( a;]sf] ;~rfns ;ldltsf] a}7saf6 ;j{;fwf/0fsf] nflu 5'§fOPsf]?=!))÷—
c+lst b/sf] $#,%),))) lsQf z]o/ lgisfzg ug{] lg0f{o ul/Psf] 5 .
sDkgLsf]] ;~rfns ;ldltsf] a}7saf6 lg0f{ofg';f/ ?=!))÷—c+lst b/sf] $#,%),))) lsQf ;fwf/0f z]o/
dWo] ?=!))÷—c+lst b/sf] !$,%),))) lsQf z]o/ cfof]hgf k|efljt If]q cyf{t\ bf]nvf lhNnfsf lau' /
sflnGrf]s ufpFkflnsf;Dk"0f{ afl;Gbfx?sf] nflu lgisfzg ul/g] / afFsL @(,)),))) lsQf z]o/
;j{;fwf/0fx?sf] nflu lgisfzg ul/g] u/L 5'§fOPsf] 5 .
ª_ ;+ul7t ;+:yf jf o;sf z]o/wgLnfO{ s'g} ljz]ifs/ ;'ljwf lbOPsf] eP,;f] ;DaGwL ljj/0f M;f] gePsf] .
r_ ;+ul7t ;+:yfsf] kl5Nnf] cfly{s jif{sf] n]vfk/LIf0f ePsf] jf;nft, gfkmf gf]S;fg lx;fj / gub k|jfx
ljj/0f k|fKt ug{ jf x]g{ ;Sg] 7fpF / ;do M
sfof{no ;doleq lgDglnlvt :yfgx?df sDkgLsf] kl5Nnf] cfly{s jif{sf] n]vfk/LIf0f ePsf] jf;nft, gfkmf–
gf]S;fg lx;fj tyf gub k|jfxsf] ljj/0f k|fKt ug{ jf lg/LIf0f ug{ ;lsg]5 .
41
!= sDkgLsf] /lhi68{ -s]Gb|Lo_ sfof{no, sf7df8f}+ dxfgu/kflnsf j8f g+ !, b/af/dfu{ .
@= lwtf]kq lgisfzg tyf laqmL k|aGws >L d]uf Soflk6n dfs]{6\; lnld6]8, lqk'/]Zj/, sf7df8f}+ .
5_ af]g; z]o/ ;DaGwL Joj:yf M

xfn;Dd af]g; z]o/ hf/L ul/Psf] 5}g . eljiodf k|rlnt P]g / g]kfn lwtf]kq af]8{sf] k|rlnt af]g; z]o/
lgisfzg;DaGwL Joj:yf cg';f/ af]g; z]o/ hf/L ug{ ;Sg]5 .
h_ z]o/jfnf, sd{rf/L jf c? s;}sf] nflu z]o/ ;'/lIft ug]{ Joj:yf ul/Psf] ePdf ;f] s'/f M
o; ljj/0fkq dfkm{t lgisfzgul/g] !$,%),))) lsQf ;fwf/0f z]o/ cfof]hgf clt k|efljt tyf k|efljtIf]q
-pBf]u k|efljt If]q_ bf]nvf lhNnfsf lau' / sflnGrf]ssf ;Dk"0f{ afl;Gbfx?sf nflu lgisfzg ul/Psf] 5 .
o; ljj/0fkq dfkm{t lgisfzg ul/g] ;fwf/0f z]o/ ;a} laqmL x'g g;sL afFsL /x]df To:tf] afFsL /x]sf]
z]o/x? ;j{;fwf/0fx?nfO{ yk u/L laqmL ug{ ;lsg]5 . afFsL @(,)),))) lsQf ;fwf/0f z]o/sf] %Ü cyf{t\
!$%,))) lsQf ;fwf/0f z]o/ ;fd"lxs nufgL sf]if / @Ü cyf{t%*,))) lsQf ;fwf/0f z]o/ sDkgLsf
sd{rf/Lsf nflu 5'§fOPsf] / afFsL @,^(&,))) lsQf ;fwf/0f z]o/ ;j{;fwf/0fx?sf] nflu lwtf]kq btf{ tyf
lgisfzg lgodfjnL,@)&# sf] clwgdf /xL lgisfzgul/g]] 5 . sd{rf/Lsf] nflu 5'§fOPsf] z]o/ dWo]
sd{rf/Laf6 a9L dfu e} cfPsf] xsdf ;~rfns ;ldltn] cf}lrTok"0f{ tj/af6 afF8kmfF6 ug]{5 . sd{rf/Lsf]
nflu 5'§fOPsf] z]o/sf nflu dfu eO{ gcfPsf] cj:yfdf afFls z]o/x? ;j{;fwf/0fdf afF8kmfF8 ul/g]5 .
em_ sDkgLn] sDkgL P]gn] u/]sf] Joj:yfx?, cfˆgf] sf/f]af/;Fu ;DalGwt P]g, lgod tyf lgodg Joj:yf
k"0f{ kfngf u/]sf] ;DaGwdf u/]sf] pb\3f]if0f M
sDkgLn] sDkgL P]g, @)^# n] u/]sf] Joj:yfx?, cfkm"n] ug]{ Joj;fo;Fu ;DalGwt P]g, lgod tyf lgodg
Joj:yf tyf lgodg lgsfox?n] lbPsf] lgb]{zgx?sf] k"0f{ ?kdf kfngf u/]sf] 5 / ;f]xL lgb]{zgx?sf] bfo/f
leq /xL sfo{ ul//x]sf] / o; ljj/0fkqdf pNn]v ul/Psf] ljj/0fx? ;d]t ;f]xL cg'?k tof/ ul/Psf] xf] eGg]
sDkgLsf] pb\3f]if0f /x]sf]5 .
`_ lwtf]kq laqmL ljt/0f ;DaGwL Joj:yf M

o; ljj/0fkq dfkm{t lgisflzt ;fwf/0f z]o/ laqmL ljt/0fsf nflu cfof]hgf clt k|efljt tyf k|efljt If]q
-pBf]u k|efljt If]q_ bf]nvf lhNnfdf slDtdf rf/ ;+sng s]Gb|sf] Joj:yf u/L cfjb]g kmf/d tyf ljj/0fkq
ljt/0f / cfj]bg kmf/d ;lxt b/vf:t /sd a'lemlng] Joj:yf ul/g]5 .cfjZostf cg';f/ :jLs[lt lnP kl5
cGo ;+sng s]Gb|x? yk ug{ ;lsg]5 . ;fy} g]kfn lwtf]kq af]8{af6 ldlt @)&^÷!)÷)& sf] lgb]{zg adf]lhd
cfof]hgf k|efljt If]qsf :yflgoaf;Lx?n] P]lR5s ?kdf cf:jf k|0ffnLdfkm{t cfj]bg lbg ;Sg] 5 . o;
ljj/0fkq dfkm{t lgisflzt ;fwf/0f z]o/ laqmL ljt/0fsf nflu g]kfn lwtf]kq af]8{af6 Ohfhtkq k|fKt cf:jf
;b:o a}+s tyf ljQLo ;+:yfx?sf tyf ltgsf tf]lsPsf] zfvf sfof{nox?af6 cfa]bg lbg;Sg] Joj:yf
ul/Psf] 5 .
6_ qm]l86 /]l6Ë ;DaGwL Aoa:yf M

o; ljj/0fkq dfkm{t lgisfzg ul/g] ;fwf/0f z]o/sf] ;fj{hlgs lgisfzg ug{sf nflu s]o/ /]l6ª g]kfnn] cf};t
eGbf sd cfwf/x? (Below-Average Fundamental) hgfpg]“CARE-NP BB-(IS)” ldlt cS6'j/ !^,@)@)
df k|bfg u/]sf] 5 . “[CARE-NP BB-(IS) [Double B Minus (Issuer)]”n] (Moderate risk of defult
regarding timely servicing of financial obligation) hgfpFb5 / ;f] /]l6ªsf] axfn cjlw cS6'a/
!%,@)@! - lj=;+=@)&*÷)^÷@(_ ;Dd /x]sf] 5 .
7_ ljj/0fkq tof/ ug]{ JolQmsf] gfd, y/, z}lIfs of]Uotf / cg'ejsf] ljj/0f M o; ljj/0fkq tof/ kfg]{
Joj;flos ;+:yfdf d]uf Soflk6n dfs]{6\; lnld6]8, lqk'/]Zj/,sf7df8f}+ /x]sf]] 5 .
8_ ;sf/fTds kIfx? M
!= cfof]hgfaf6 k|fKt x'g] cfodf !) jif{ cfos/ 5'6 tyf ;f] kZrft\\ % jif{sf] nflu %) k|ltzt cfos/
5'6 k|fKt ePsf] x'Fbf nfef+zsf] b/ cfs{ifs /x]sf] .
@= l;+u6L vf]nf hnljB't cfof]hgfsf] ;Dk"0f{ ;+/rgf, d]l;g, cf}hf/ tyf pks/0fx?sf] hf]lvdnfO{
Go"lgs/0f ug{ ladf ul/Psf] .
#= sDkgL;Fu bIf o'jf hgzlQm /x]sf]n] of] sDkgL g]kfndf hnljB't cfof]hgfsf] ljsf; / lgdf{0fsf]
sfddf ;kmn /x]sf] .
42
$= hnljB'tsf] If]qdf cWoog cg';Gwfg tyf ljsf; sfo{df of]hgfj4 9+un] ;dlk{t eP/ sfd ul//x]sf]
o; sDkgLsf] eljio pHjn /x]sf] .
9_ z]o/ /lhi6«f/ ;DaGwL Joj:yf M

g]kfn :6s PS;r]~h lnld6]8 tyf l;l8P; P08 lSnol/Ë lnld6]8df ;"lrs/0f u/] kZrft\\ z]o/sf] bflvn
vf/]h, b:tvt ?h' cflb ;DaGwL sfo{ o; sDkgLsf] sfof{noaf6 jf sDkgLsf] ;~rfns ;ldltn] tf]s]
adf]lhd z]o/ /lhi6«f/sf] sfof{noaf6 x'g] u/L Joj:yf ul/g]5 .
0f_ lwtf]kq laqmL v'Nnf cjlw M

o; ljj/0fkq dfkm{t\ k|yd r/0fdf pBf]u k|efljt If]qsf jfl;Gbfx?df lgisfzg ul/g] ;fwf/0f z]o/sf] nflu
cfa]bg lbg] cjlw sDtLdf !% -kGw|_ lbg / a9Ldf #) -tL;_ lbg x'g]5 . pQm cjlwdf pBf]u k|efljt If]qsf
jfl;Gbfx?sf nflu lgisfzgu/]sf] z]o/ k'/f laqmL gePdf pQm laqmL gePsf] z]o/ ;d]t yk u/L bf];|f]
r/0fdf ;j{;fwf/0fsf] nflu cfj]bg lng] sfo{ sDtLdf $ -rf/_ sfo{ lbgsf] nflu v'Nnf ul/g]5 . ;f] cjlwleq
lgisfzg ul/Psf] ;a} lwtf]kq laqmL gePdf ;+:yfut nufgLstf{n] ;d]t cfa]bg ug{ kfpg]u/L bf];|f] r/0fsf]
b/vf:t v'Nnf ePsf] ldltn] a9Ldf !% -kGw|_ lbgsf] nflu lwtf]kqsf] b/vf:t v'Nnf /xg]5 . cfjZostf
eGbf a9L ;fwf/0f z]o/sf] nflu cfj]bg kg{ cfPdf s'g} klg avt ;fwf/0f z]o/sf] laqmL aGb ug{ ;lsg]5
t/ $ -rf/_ sfo{ lbgeGbf cufl8 z]o/ vl/bsf] nflu cfj]bg lng] sfo{ aGb ul/g] 5}g .
t_ lwtf]kq lgisfzgsf] qmddf af]8{af6 :jLs[t ePsf] ljj/0fkq nufgLstf{n] ;xh ?kdf x]g{ ;Sg]5g\ /
nufgLstf{x?nfO{ ;'lrt lg0f{o (Informed Decision)df k'Ug ;xh ug]{ p2]Zon] To:tf ljj/0fx? ;DalGwt
lgisfzgtyf laqmL k|aGws tyf lgisfzgstf{ sDkgL k|To]ssf] cfkm\gf] j]e;fO6df lwtf]kq laqmL aGb
geP;Dd /flvg]5 .
y_ af]8{af6 :jLs[t ePsf] ljj/0fkq ;fj{hlgs lgisfzgsf] nflu k|sfzg ug{' @ lbg cufl8 ;f] sf] Ps
k|lt (Soft Copy)af]8{sf] j]e;fO6df /fVg] k|of]hgsf] nflu pknAw u/fpg] 5f}+ .
b_ lwtf]kq btf{ tyf lgisfzg lgodfjnL, @)&# sf] bkmf ( sf] pkbkmf # adf]lhd zt{x? kfngf ;DaGwL
ljj/0fx? M
s_ cfˆgf] p2]Zo cg';f/ sf/f]af/ ;~rfng ug{sf] nfuL cfjZos sfo{x? cufl8 a9fO{ Ps aif{sf] cjlw k"/f
u/]sf] Ml;+u6L xfO{8«f] OghL{ lnld6]8n] k|rlnt sfg'g adf]lhd @)^& ;fn h]i7 )% ut] sDkgL /lhi6«f/sf]
sfof{nodf k|f=ln= sDkgLsf] ?kdf btf{ e} ldlt @)&% cfiff9 )^ ut]b]lv klAns sDkgLdf kl/0ft e}
sDkgL P]g, @)^# / ljB't P]g, @)$( cGtu{t sfd÷sf/f]af/ ub}{ cfO{/x]sf] 5 . bf]nvf lhNnfdf @%d]=jf=
Ifdtfsf] l;+u6Lvf]nf hnljB't cfof]hgfsf] lgdf{0f sfo{ ;DkGg e}/x]sf] 5 .
v_ k|rlnt sfg'g adf]lhd n]vfkl/If0f tyf ;fwf/0f;ef ;DkGg ePsf] Mcf=j= @)&%÷&^ sf] n]vf kl/If0f
ldlt @)&^÷)$÷!& tyf ;fwf/0f ;ef ldlt @)&^÷!!÷#) df ;DkGg ePsf] .
u_ cfˆgf] pb]Zo cg';f/ sf/f]af/ ;+rfng ug{sf] nflu k|rlnt sfg'g adf]lhd s'g} lgsfoaf6 Ohfht
cg'dlt jf :jLs[lt lng'kg]{ ePdf o:tf] Ohfht, cg'dlt kq jf :jLs[lt lnO{;s]sf] M @% d]=jf Ifdtfsf]
l;+u6L xfO{8«f] OghL{ lnld6]8 nfO{ pQm cfof]hgf ;+rfngsf nflu g]kfn ;/sf/, ljB't ljsf; ljefuaf6
ldlt @)&@÷)(÷#)df !^ d]=jf sf nflu Ohfht kq k|fKt u/]sf]/ yk ;+zf]wg ul/ hDdf @% d]=jf -
!^ d]=jf df ( d]=jf_ sf nflu ldlt @)&%÷)@÷@! df Ohfht kq k|fKt u/]sf] .
3_ ;+ul7t ;+:yfsf] nflu cfjZos kg]{ hUuf vl/b jf cGo k|sf/sf] Joj;fo u/L sf/vfgf ejg, sfof{no
ejg, uf]bfd3/ tyf cGo cfjZos ;'ljwfx?sf] lgdf0f{ sfo{ ul/;s]sf] M o; kl/of]hgfsf] nflu cfjZos
kg]{ hUuf vl/b u/L sfof{no ejg nufot kl/of]hgfsf] lgdf0f{ sfo{ ;DkGg e}/x]sf] .
ª_ pTkfbgsf] k|j[lQ 5gf]6 u/L pBf]usf] nflu cfjZos kg]{ oflGqs pks/0f tyf To;sf kf6k"hf{ cflb
vl/b ug'{kg]{ ePdf 6]08/ cflb vl/b k|s[of cufl8 a9fO{;s]sf] M o; cfof]hgf l;len ;+/rgf, xfO8«f]
d]sflgsn O{SjLkd]G6 / O{n]S6«f] d]sflgsn O{SjLkd]G6x? h:t} l;len jS;x? – /fd]5fk z]kf{ sG:6«S;g
k|f=ln / cf/= h] ;"o{ sG:6«S;g h]=le, xfO8«f] d]sflgsn O{SjLkd]G6 –qmLd xfO8]n k|f= ln= g]kfn / O{n]S6«f]
d]sflgsn O{SjLkd]G6 – x'gfgPnf]gjf8{ xfO8«f] h]g]/]l6Ë O{SjLkd]G6 sDkgL ln=,rfOgfdfk{mt v/Lb k|lqmof
l;naGbL sf]6];g lnO{ ;6{ln:6 k|lqmof ¢f/f ;DkGg ePsf] / cfof]hgfsf nflu cfjfZos kg]{ oflGqs
pks/0f vl/b u/L h8fg ;d]t e}/x]sf]5 .
43
r_ lwtf]kqsf] ;fj{hflgs lgisfzg ;DaGwdf lgisfzgtyf laqmL k|aGws;Fu ;Demf}tf eO;s]sf] M l;+u6LxfO8«f]
OghL{ln=af6 k|alw{t o; kl/of]hgfdf nufgL ug{ l;+u6L xfO8«f] OghL{ ln=n] lwtf]kqsf] ;fj{hflgs
lgisfzg ;DaGwdf d]uf Soflk6n dfs]{6\; lnld6]8nfO{ lgisfzg tyf laqmL k|aGwssf] ?kdf lgo'ltm
u/L ldlt @)&^÷)#÷ @%df ;Demf}tf e};s]sf] .
5_ cfof]hgfsf] lgdf0f{ cjlwe/ sDkgLsf] C0f / kF"hLsf] cg'kft lgb]{lzsfdf tf]lsPsf] cg'kftdf /fVg
;xdt ePsf]M l;+u6L xfO8«f] OghL{ ln=jf6 k|alw{t o; l;+u6L vf]nf hnljB't cfof]hgf kl/of]hgfdf
nufgL ug{ sDkgLsf] C0f / kF"hL &@M@*sf] cg'kftdf /fVg ;xdt ePsf] .
h_ ;+:yfksn] lng sa'n u/]sf] lwtf]kq /sd zt k|ltzt r'Qmf eO;s]sf] M ;+:yfksn] lng sa'n u/]sf]
l;+u6L xfO8«f] OghL{ ln=n] dfu u/]sf] lwtf]kq /sd r'tmf eO;s]sf] .
em_ kl/of]hgf lgdf0f{sf] nflu kmfOgflG;on Snf]h/ e};s]sf] M l;+u6L vf]nf hnljB't cfof]hgf @% d]=jf
;+rfngsf] nflu l;len a}+s ln= sf] ;xljQLos/0f cGtu{t;]Gr'/L sd{l;on a}+s lnld6]8, b]j ljsf;
a}+s lnld6]8, Unf]an cfO{ Pd O{ a}+s lnld6]8, s'df/L a}+s lnld6]8, n'lDagL ljsf; a}+s lnld6]8,
dxfnIdL ljsf; a}+s lnld6]8, k|e' a}+s lnld6]8, l;4fy{ a}+s lnld6]8 / d]uf a}+s g]kfn lnld6]8 ;F+u
kmfOgflG;on Snf]h/ eP/ C0f;d]t lnO{Psf] 5 .
~f_ hnljB't pTkfbg ;:yf ePdf ljB't vl/b laqmL ;Demf}tf ul/;s]sf]Ml;+u6Lvf]nf hnljB't cfof]hgf !^
d]=jf= sf] ldlt@)&) ;fn sflt{s @& ut] / @)&$ ;fn d+l;/ @* ut] !^ d]ufjf6df ( d]ufjf6 yk
u/L hDdf @% d]ufjf6 Ifdtfsf] g]kfn ljB't k|lws/0f;+u ljB't vl/b laqmL ;Demf}tf -lk=lk=P=_ df
x:tfIf/ ePsf] .
6_ ;j{;fwf/0fsf] nflu lgisfzg ug{ nfu]sf] z]o/x? lgb]{lzsfdf tf]lsPsf] adf]lhd k|Tofe"lt u/fPsf]M l;+u6L
xfO8«f] OghL{ sDkgL ln= af6 k|jlw{t o; kl/of]hgfdf nufgL ug{ l;+u6L xfO8«f] OghL{ ln= lwtf]kqsf]
;fj{hlgs lgisfzg ug{ nfu]sf z]o/x? lgb]{lzsfdf tf]lsP adf]lhd >L k|e' Soflk6n ln= / >L g]kfn
aËnfb]z Soflk6n ln af6 ldlt @)&&÷)*÷)$ df k|Tofe"lt;DaGwL ;Demf}tf ePsf] .
u=@#= o; ljj/0fkqdf k|sflzt tYo tyf ljj/0fx? 7Ls b'?:t 5g, ;f] df s'g} km/s k/]df xfdL ;~rfnsx?
k"0f{ ?kdf lhDd]jf/ x'g]5f}+ egL ;xL 5fk ug]{ ;+rfns tyf lj1x?sf] gfd tyf b:tvt M
l;=g+= ;~rfnssf] gfd kb b:tvt

!= a6' nfld5fg] cWoIf
@= u0f]z sfsL{ sfo{sf/L ;~rfns
#= 8f]Ndf nldlg ;~rfns
$= g/]Gb| aNne kGt ;~rfns
%= b]j]; k|;fO{ ;~rfns
^= ;'bLk /fh uf}td k|ltlglw ;~rfns
&= /hgL yfkf ;~rfns
44
u=@$=lgisfzgtyf laqmL k|aGwssf] k|:t't u/]sf] k|lta4tf kq -8\o' 8]lnh]G;\ ;l6{lkms]6_ sf] k|lt M
45
u=@%=ljj/0fkq, ljQLo ljj/0f tyf cGo s'g} s'/fdf lj1n] /fo lbPsf] ePsf] ;DaGwL kq M
46

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sDkgL P]g, @)^# cGtu{t :yflkt / ;+rflnt

l;+u6L xfO8«f] OghL{ lnld6]8

lwtf]kq lgisfzg tyf laqmL k|aGws

!= d]uf Soflk6n dfs]{6\; lnld6]8, lqk'/]Zj/, sf7df8f}+ . j]e;fO6M www.megacapitalmarkets.com

;j{;fwf/0fsf] nflu b/vf:t kmf/fd k|fKt ug]{ / b/vf:t a'emfpg] :yfgx? M

u=@=;+ul7t ;+:yfsf] pb\3f]if0f M

u=@= s=;+rfnssf] lhDd]jf/L tyf hjfkmb]lxtf ;DaGwL pb\3f]if0f M

u=@= v=;+ul7t ;+:yfsf] hjfkmb]lxtf ;DaGwL pb\3f]if0f M

u=@= u=lgodg lgsfosf] lgodg Joj:yfsf] kfngf ;DaGwL pb\3f]if0f M

u=@=3=;+:yfks, ;+rfns tyf sfo{sf/L k|d'v ;DaGwL pb\3f]if0f M

u=#=;+ul7t ;+:yf ;DaGwL hfgsf/L M

*= cfof]hgfsf] ljleGg sfo{x?sf] k|ult ljj/0f M

!)= kl/of]hgfsf]] IRR k|If]lkt lgDgfg';f/ u0fgf ul/Psf] 5 M

bz nfv ?k}+ofdf gofF ;fdfgsf] vl/b ul/of] . 1,38,09,866.63sf] k|d'v dd{t

!!= NPV k|If]lkt lgDgfg';f/ u0fgf ul/Psf] 5 M

hDdf 365 138,134,680 5,525,387 132,609,293 92,572,710 40,036,583

!^ d]=jf= Ifdtfdf k|fKt ePsf] d"No j[l¢

(d]=jf= Ifdtfdf k|fKt ePsf] d"No j[l¢

5_ b]xfosf s'/fx? ;d]t pNn]v ug'{ kg]{ -nfu' x'g] xb;Dd_ M

u=#=u= efjL of]hgf tyf /0fgLlt M

;d"x æsÆ z]o/wgLx¿af6 dgf]lgt jf lgjf{lrt ;~rfnsx¿ $ hgf

u=$=s_ k"FhLsf] ;+/rgf:

!_ clws[t k"FhL(Authorised Capital):

@_ hf/L k"FhL (Issued Capital):

#_ r'Qmf k"FhL (Paid up Capital):

-s_ ;+:yfks z]o/wgL !,)!,%),))) &)Ü !,)!,%),)),))) !))

u=%=;+:yfks÷;+rfns ;DaGwL hfgsf/L M

u=%=s= ;+:yfks÷;+rfnssf] k[i7e"dL M

g]kfnL nlntk'/,$ lrlsT;ssf]

3_;+:yfks÷;+rfnssf] xs x:tfGt/0f aGb]h ;DaGwL ljj/0f M

>L u0f]z sfsL{, sfo{sf/L ;~rfns

u=^=;Lldt bfloTj ;DaGwL ljj/0f M

u=&= ;+ul7t ;+:yfsf] sd{rf/L ;DaGwL ljj/0f M

u=&=s=;+ul7t ;+:yfsf] pRr Joj:yfksLo txsf clws[t sd{rf/Lx? ;DaGwL ljj/0f M

3_ sd{rf/L ;+Vof M :yfoL, c:yfoL, s/f/, Hofnfbf/L / cGo .

:yfoL c:yfoL s/f/ Hofnfbf/L cGo s'n sd{rf/L ;+Vof

v_ sRrf kbfy{sf] cefjaf6 x'g] hf]lvd M

@%d]=jf= l;+u6L vf]nf hnljB't cfof]hgfsf] ladf ;DaGwL ljj/0f M

lwtf]kq d"No kl/jt{g ;DaGwL hf]lvd M

u=(= ljQLo ljj/0f

u=(=s= ljQLo ljj/0f / tT;DaGwdf Joj:yfkgsf] wf/0ff / ljZn]if0fM

laj/0f cf=a= @)&%÷)&^ -?= xhf/df_

gub k|jfx ljj/0f ->fj0f !,@)&% b]lv cfiff9 #@, @)&^_

jf;nft k|If]lkt -?= xhf/df_

;+lrt gfkmf÷gf]S;fg 116,381 249,200 411,818 607,335.88

hDdf 1,566,381 1,699,200 1,861,818 2,057,336

;DklQ tyf bfloTj

hDdf l:y/ ;DklQ - - -

Go'gM rfn' bfloTj tyf

5,397,074 5,355,399 5,251,261

gfkmf gf]S;fg lx;fa k|If]lkt -?= xhf/df_

x|f;s§L 98,226 182,712 180,651 180,368

ljQ nfut 206,581 348,519 342,619 329,940

sfo{lzn k"FhLsf] kl/jt{g cl3sf] 421,188 664,050 685,888 705,825

;DklQ lg;u{af6 ePsf] nfe – – –

sf/f]jf/ ;~rfngaf6 gub k|jfx 421,188 664,050 685,888 705,825

sfo{ut k"FhL ultljlwaf6 gub

cfos/ cl3 ;~rfng 588,702 460,556 645,108 672,841

nufgL ultljlwjf6 v'b gub

nufgL ultljlwjf6 v'b gub -240,591_ -

ljQLo ;|f]t ;DalGw sf/f]jf/af6

-206,581_ -348,519_ -342,619_

Gfubdf ePsf] s"n kl/jt{g

cf=a= @))÷)! -?= xhf/df_